It promises to double the monetary base and to more than double the average maturity of the Japanese government bonds ( JGBs) that it purchases. 日本央行承诺将货币基础扩大一倍,并将其购买的日本国债(JGB)平均到期期限延长一倍以上。
The first round of QE, following the 2008 crisis, was necessary, even though it doubled the US monetary base. 2008年危机过后的第一轮定量宽松政策是必要的,尽管这让美国的货币基数扩大了一倍。
These reform measures subjected this crucial part of the monetary base to the discipline of the currency board arrangement and strengthened the linked exchange rate system. 这些改革措施使货币基础至关重要的部分受到货币发行局制度约束,巩固了联系汇率制度。
In 2006, with inflation barely above zero, the BoJ brought QE to an end, rapidly reducing the monetary base and then raising its benchmark interest rate. 2006年,通胀刚刚超过零水平的时候,日本央行就结束了量化宽松,迅速减少了货币基础,随后又上调了基准利率。
The linked exchange rate system is a currency board system, which theoretically requires the monetary base to be backed by a foreign currency at a fixed exchange rate. 香港的联系汇率制度是一种货币发行局制度,规定货币基础必须以一种外币按照固定汇率作出支持。
Thus, that part of the monetary base represented by the clearing balances of the banking system was initially not subject to the discipline imposed by a currency board system. 因此,货币基础中银行体系结算余额的部分,最初并不受货币发行局制度的规则约束。
But the master himself disowned the MTFS because the Bank of England continued to regulate the money supply through interest rates rather than via the monetary base. 但这位经济大师本人不赞成中期财政战略,因为英国央行(bankofEngland)对货币供应量的调节仍是通过利率而不是货币基础。
This procedure is consistent with the currency board discipline, since interest payments on Exchange Fund paper are backed by interest income on the US dollar assets backing the monetary base. 这种方法完全符合货币发行局的原则,原因是外汇基金票据和债券的利息支出已由货币基础的美元资产所得利息收入提供支持。
Thus we have the backing ratio of US dollar assets over the monetary base, which we monitor daily. 因此我们定出美元资产对货币基础的支持比率,并会每日进行监察。
In accordance with the principle of the currency board system, the growth in the monetary base was fully backed by changes in the backing assets. 上述货币基础的增加符合货币发行局制度的原则,即其增加部分已透过支持资产的增加而得到十足支持。
In the original gold standard the monetary base was regulated by the need to stop gold outflows rather than by legislative requirements. 在原有的金本位制中,对货币基础实施管理是出于防止黄金外流的需要,而非出于法律上的要求。
The results normally include rapid rises in net exports, low interest rates, aimed at curbing the capital inflow, and expansion in the monetary base, despite attempts at sterilisation. 结果通常包括净出口快速上升、旨在遏制资本流入的低利率,以及货币基础的膨胀,尽管有冲销的尝试。
The Sub-Committee noted that, in accordance with currency board principles, changes in the monetary base during the reporting period had been fully matched by changes in the foreign reserves. 委员会获悉,报告期内货币基础的变动与用作支持货币基础的外汇储备的变动完全一致,符合货币发行局制度的原则。
Under this linked exchange rate system, the government undertakes to back the entire monetary base of Hong Kong with us dollars. 根据联汇制度,政府承诺以美元支持本港整个货币基础。
At a fixed exchange rate, a current account surplus not offset by a corresponding voluntary capital outflow will generate an increase in the monetary base. 在汇率固定的情况下,如果没有相应的自愿资金外流,来抵消经常账户盈余,就会造成货币基础的增长。
The size of the monetary base has remained stable under our robust and rule-based currency board system. 在稳健而规范化的货币发行局制度下,货币基础数额一直保持稳定。
Research on the Influence of Funds Outstanding for Foreign Exchange on Monetary Base in China 外汇占款对我国基础货币供给影响研究
Since the BoJ abandoned quantitative easing in March, Japan's monetary base has withered. 自从日本银行在三月份放弃了定量放松政策,日本的货币基础就已经萎缩。
Currency board arrangements translate currency strength arising from capital inflow into an expansion of the monetary base, more foreign reserves and lower domestic interest rates. 根据货币发行局制度,由于在汇率稳定的环境下资金流入,货币基础会扩大,外汇储备亦会增加,使本地利率下降。
The US is faced with the choice of either paring back its budget deficits and monetary base as soon as the current risks of deflation dissipate, or setting the stage for a potential upsurge in inflation. 美国面临一个选择:是一旦当前的通缩风险消失,就立刻削减预算赤字和货币基数,还是迎接可能的通胀飙升。
This imposed a constraint on the ability of the HKMA to accommodate a demand for short-term liquidity by banks through increasing the monetary base. 在此情况下,金管局透过增加货币基础以提供银行所需短期流动资金的能力便受到限制。
Marking the value of securities to market, there may be an increase in the monetary base relative to the backing portfolio. 若按市价计算证券的价值,货币基础的总额相对支持组合可能会有所增加。
The expansion or contraction in the monetary base leads interest rates for the domestic currency to fall or rise respectively, creating the monetary conditions that automatically counteract the original capital movement, ensuring stability of the exchange rate. 货币基础扩大或收缩会分别导致本地货币的利率下跌或上升,部分资金随之流出或流入,因而自动抵销原来资金流向所造成的压力,确保汇率维持稳定。
Indeed, during the current crisis, the monetary base has become disconnected from the money supply in all big economies. 实际上,在当前危机下,所有大型经济体的基础货币都已经与货币供给脱节了。
The Bank of Japan last week announced it aimed to double its monetary base over two years through the aggressive purchase of long-term bonds, in a shift from previous policy. 日本央行(BoJ)上周宣布打算大举购入长期债券,在两年内将其货币基础扩大一倍,这与以往政策相比有所转变。
As the crisis has deepened, the Fed aggressively loosened conventional monetary policy, expanded the monetary base, provided large-scale liquidity support and backed lending directly with "credit easing". 随着危机加剧,美联储积极地放松了常规的货币政策,扩大货币基数,提供大规模的流动性支持,直接通过“信贷放松”来支持放贷。
Inflation, by contrast, is hard to worry about in the short term, not least because the Fed's expansion of the monetary base is leading to no commensurate expansion of the broad money supply; the banks would rather shrink than expand their balance sheets. 相反,短期内人们难以担心通胀问题,原因之一是,美联储货币基础的扩张,并未导致广义货币供给的相应扩张;银行宁愿收缩,也不愿扩张其资产负债表规模。
In the other direction, when there is an outflow of funds and the domestic currency is sold to the currency board, the monetary base will contract. 相反,在资金流出时,市场人士向货币发行局出售当地货币,货币基础便会收缩。
That means increasing national debt and extending the monetary base. 这意味着增加国家债务和扩大货币基础。
The first is a Backing Portfolio to ensure that the monetary base related to the currency board operations is fully backed by highly liquid, primarily short-term, US dollar denominated debt securities. 其一是支持组合,确保货币基础获得高流动性及主要属短期的美元债务证券提供十足支持;