货币利率

Under the Fisher hypothesis, an increase in nominal money growth — which is reflected one for one in an increase in inflation — has no effect on the real interest rate in the long run and increases the nominal interest rate by an amount equal to increase in money growth.

在 FISHER 假说下，名义货币的增长与通货膨胀的增长是一一对应的，在长期内对实际利率没有影响，并通过等量于货币增长的增加使名义利率也增加。

My current benchmark interest rate in response to the problems and choices reasons for this loan interest rates, rediscount rate, the bond repurchase rate, the benchmark interest rate of treasury bonds was conducted to explore and functional analysis of specific comparison of their respective advantages and disadvantages.

针对我国现阶段在基准利率选择方面存在的问题及原因，依据基准利率选择具体原则和标准。本文对我国现有货币市场上的同业拆借利率、再贴现利率，债券回购利率、国债利率的基准性功能依次进行了探讨与分析，具体的比较了它们各自的优缺点。

RMB financial products in this article yield factors for the study of commercial banks in the theory of personal finance and domestic financial product research RMB combing literature based on theoretical analysis from a financial product RMB yield factors, as well as factors product yield on the financial mechanism of the impact and application of new Industrial and Commercial Bank of China fixed-term renminbi financial products based on relevant data, in order to build a yield to maturity, duration, interest rate and money supply measures for the analysis of model variables the above theory can be tested, statistical analysis showed that: RMB Commercial Bank financial products yield to maturity and interest rates, money supply was a negative correlation between the volume, but no significant period of relevance.

本文以人民币理财产品收益率影响因素为研究对象，在对商业银行个人理财相关理论和国内人民币理财产品及其收益率研究文献进行梳理的基础上，尝试从理论层面分析人民币理财产品收益率的影响因素，以及各因素对理财产品收益率产生影响的作用机理，并以中国工商银行已到期2006年、2007年和2008年人民币理财产品的相关数据为依据，构建以到期收益率、期限、利率及货币供给量为变量的计量分析模型，用描述统计方法和斯皮尔曼相关分析对上述理论进行检验，统计分析结果显示：商业银行人民币理财产品的到期收益率和利率、货币供给量呈负相关关系，而与期限没有显著的相关性。

The author stressfully compare financial variables of possibly acting as intermediary goals: monetary supplies, market interest rate and inflation rate in terms of monetary multiplier, monetary circulating velocity, and basic money etc, which tries by comparing to that the index of monetary supplies is superior to the others in terms of measurability, controllability, and anti-disturbance.

其后在这一部分中本文结合经济与金融环境的变化，从货币乘数、货币流通速度、基础货币等几个方面，重点比较了货币供应量、市场利率和通货膨胀率等三个可供作为货币政策中介目标使用的金融变量，力图通过比较来说明，从可测性、可控性和抗干扰性等多个角度看，货币供应量优于另外两个指标。

Since 1994 China has turned its monetary policy operation from direct control of credit to indirect control of monetary aggregate which included adjustment to base money, interest rate and open market operation. In 1995 money supply was introduced as a triable medium aim of monetary policy and in 1996 it became a formal medium aim.

自1994年开始我国货币政策操作从控制信贷规模为主的直接调控手段逐渐向控制基础货币、利率调整、公开市场操作等间接调控手段转变，1995年尝试把货币供应量纳入货币政策中介目标体系，1996年正式把货币供应量作为中介目标。

On this basis, the interest rate on the existing loan and bond repurchase rate by a further comparative analysis, the final conclusion, repurchasing rate is the benchmark interest rate at the best choice.

在此基础之上，对现有基准利率；货币市场；同业拆借利率；回购利率的同业拆借利率和债券回购利率进行了进一步的比较分析，最后得出结论，债券回购利率是我国现阶段基准利率的最佳选择。

However, as market interest rates rise is caused by the market's inflation expectations, rather than lack of money supply, therefore, increase the money supply and curb market interest rates may move up there will not be much of a positive effect.

然而，随着市场利率上升的原因是市场的通胀预期，而不是货币供应不足，因此，增加货币供应量和抑制市场利率可能将不会有太大的积极作用。

Furthermore, the thesis analyzes in depth how deflation influences the related behaviors and conductive processes of the mechanism, studies how deflation influences the whole mechanism, and makes a theoretical and empirical study of deflations influence over the effectiveness of monetary policy. It concludes that deflation makes the mechanism checked and thus weakens the effectiveness of monetary policy.

然后，深入分析通货紧缩对货币政策利率传导机制各利益主体和诸环节的影响，研究了通货紧缩对整个传导机制的影响，并从理论分析和实证分析的角度研究了通货紧缩对货币政策效应的影响，得出了通货紧缩使中国货币政策利率传导机制阻滞从而削弱政策效果的结论。

The idea that monetary policy--raising interest rates (and therefore reducing the amount of money in circulation, because interest is the price of putting money into circulation rather than hoarding it) to check inflation, and lowering interest rates to check economic downturns--holds the key to moderating the business cycle, and therefore to preventing depressions as well as inflations, has been falsified.

货币政策，即提高利率（因而也就降低了货币流通量，理由是：所谓利息，即为将钱投入流通的价格）以阻止通胀，降低利率以阻止经济下滑。这个观念，对于缓和经济周期是很重要的。因而，防范萧条与防范通胀时，货币政策也是最重要的。可是，这个观点一直都是错误的。

Interest-rate rules theory, which views short-term interest rate as monetary policy instrument, reflects the new ideas and efforts of monetarists engaged in monetary policy. Two problems have to be resolved in this theory, that is,"what effects does an interest rate policy shock have on non-policy variables?"

利率规则理论是以短期利率作为货币政策工具而发展起来的一套新的理论，它体现了货币经济学家在货币政策领域内的新的尝试和努力。

In the negative and interrogative forms, of course, this is identical to the non-emphatic forms.

。但是，在否定句或疑问句里，这种带有"do"的方法表达的效果却没有什么强调的意思。

Go down on one's knees;kneel down

屈膝跪下。。。下跪祈祷