外汇

After all, the PBOC has so far succeeded in sterilising most of the increase in reserves.

不管怎样，迄今为止人行成功地消除了大部分外汇储备的增长的效应。

So far, the People's Bank of China has succeeded in largely sterilising increases in reserves and in maintaining relatively strict capital controls.

迄今为止，中国人民银行已经控制了外汇储备大规模的增长，并相应持续严格控制这些资本。

Those costs may be high enough to reduce returns on China's foreign reserves below what the central bank must pay on its sterilising bonds.

这些成本可能会很高，导致中国外汇储备的投资回报低于中国央行发行冲销债券的成本。

This leads to a massive accumulation of foreign currency reserves (up $3,445bn between January 2000 and March of this year). It also creates difficulties with sterilising the impact on money supply and inflation.

这导致了外汇储备的大规模积聚（从2000年1月至今年3月之间增加了3.4450万亿美元），也造成其难以冲销对货币供应和通胀的影响。

This might have been true of the undercurrents in currency markets in recent years, but we believe that it is no longer a good description of the current situation.

就过去几年的外汇市场而言，这种观点或许是成立的，但当前的情况已经发生了变化。

In the foreign exchange markets, the US dollar has continued to struggle as growth has underperformed in the US.

在外汇市场，因为美国经济表现落后，美元仍在坎坷前行。

Between the end of 2000 and September 2003, foreign currency reserves rose by bn.

从2000年底至2003年9月，外汇储备增加2180亿美元。

The conference at Bretton Woods also resulted in agreement to maintain fixed exchange rates between nations, but this has since been abandoned.

布雷顿森林会议的与会者们还同意在各国之间保持固定的外汇比价，但这一计划后来又放弃了。

Exchange with you many back-and-forth smiles, sounds, and gestures in a row?

外汇与你许多来回笑容，声音，手势，在一排？

In reverse is the RBA, which was confirmed to have already intervened to buy AUD.

与此相反，澳大利亚央行被证实已经在干预外汇市场，并买进澳元。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。