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Rose to 68 percent from 46 percent, according to futures traded on the Chicago Board of Trade.

芝加哥交易所的利率期货显示,因为美联储在12月11日降低基准利率到4.25%的可能性从46%升至68%,美元兑16种主要交易货币在上一个月出现贬值。

RBNZ's Bollard kept the rate at a record low on March 11 and said monetary stimulus would likely be removed around the middle of 2010 amid higher bank funding costs and a "relatively sluggish" economic recovery with traders betting the RBNZ will increase its interest rate by 180 basis points over the next 12 months.

新西兰央行行长波兰德在3月11日宣布继续维持创记录的低利率水平不变,他还表示,新西兰将于2010年中期退出货币刺激措施,"相对疲软"的经济复苏使得投资者预期新西兰央行在未来12个月里将上调利率180个基点。澳元兑美元昨日创下了7周以来的最大跌幅。

Along with changing of time lay a target to take place homologous variety,economist in all countries and finance to pass in the monetary policy to lie a target to study continuously in the monetary policy with correction, put forward a few influential as follows medium lie a target: The currency supplies quantity, interest rate, rate of exchange, bank a letter loan quantity, stock price index number.

随着时间的推移,货币政策中介目标发生了相应的变化,各国经济学家和金融通过对货币政策中介目标不断研究和修正,提出了以下几种有影响力的中介目标:货币供应量、利率、汇率、银行信贷量、股票价格指数。

The effectiveness of the equilibrium credit rationing behavior to our monetary policy mainly express in following aspects: The first, the creation of the equilibrium credit rationing behavior influence the National Central Bank's activity of adjusting the control of foundational monetary directly; The second, the existence of the equilibrium credit rationing behavior inevitably influence the effectiveness of the National Central Bank controls the policy of the market interest rate; The third, the equilibrium credit rationing behavior would influence the monetary multiplicator; The fourth, the existence of the equilibrium credit rationing behavior would result the partition of the credit market.

均衡性信贷配给对我国货币政策的影响主要表现在以下几个方面:第一,均衡信贷配给的产生直接影响中央银行调控基础货币投放的主动性;第二,均衡信贷配给的存在必然影响中央银行控制市场利率政策的效力;第三,均衡性信贷配给影响货币乘数;第四,信贷配给的存在导致信贷市场的分割。

Substitution to banknote in circulation and the reserves of Central Bank, it will have a certain impact on seignorage of Central Bank.

电子货币的广泛使用使得货币乘数的可测性和可控性受到影响,因此利率将成为未来货币政策中介目标的主流选择。

This paper reviews the effectiveness of monetary policy in China, including open market operation, reserve system reformation, interest rate policy, reloan and rediscount policy and credit policy and so on, and finds out that monetary policy operation has endogenesis and dependence, and the effectiveness of monetary policy is not perfect.

三是全面述评我国货币政策实践情况,包括公开市场操作、准备金制度改革、利率政策、再贷款再贴现、信贷窗口指导等政策工具实践情况,发现我国货币政策操作内生性强,自主性弱,货币政策执行效应并不理想。

This paper tests the controlling efficiency of China's monetary tools on base money, and indicates that China's monetary tools' efficiency is low. Moreover, it relatively shows that the efficacy of interest rate of required reserve is higher than mirror image of foreign exchange reserve, which is higher than the efficiency of reloan and the required reserve ratio.

以1999年12月至2007年3月相关变量的月度数据为样本对交互影响和多元反馈条件下我国货币政策工具对基础货币的控制效率做检验,得出:样本区间内,我国货币政策工具的控制效率低,相对而言存款准备金利率作用效力相对较高,外汇占款次之,再贷款和法定准备金率效率低。

Furthermore, the development of stock market has already affected money demand, interest rate, money market and so on, which makes some challenges to the conduct and implement of monetary policy.

除此之外,股市的发展对货币总需求、利率、货币市场运行等都已产生了影响,这对货币政策的制定和实施提出了新的要求。

Article 7. In order to meet the needs of UMEMs by banks and other financial institutions on her land, an IMCO member can obtain UMEMs either by way of exchange for them at MEMB with gold at the rate of 1 ton gold to 1 million UMEMs, or by way of borrowing money in UMEMs at basic rate of interest set by the board of executors.

第七条各成员为满足境内银行和非银行金融机构对&货币兑换中介单位&的需要,可按每吨黄金兑换一百万&有眉目&的比率用黄金从&货币兑换中介银行&兑取,或者,可按理事会所决定的基准利率向&货币兑换中介银行&申请&有眉目&贷款。

Article 7. In order to meet the needs of UMEMs by banks and other financial institutions on her land, an IMCO member can obtain UMEMs either by way of exchange for them at MEMB with gold at the rate of 1 ton gold to 1 million UMEMs, or by way of borrowing money in UMEMs at base rate of interest set by the board of executors.

第七条各成员为满足境内银行和非银行金融机构对&货币兑换中介单位&的需要,可按每吨黄金兑换一百万&有眉目&的比率用黄金从&货币兑换中介银行&兑取,或者,可按理事会所决定的基准利率向&货币兑换中介银行&申请&有眉目&贷款。

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