They had seriously miscalculated the effect of inflation.
关于通货膨胀的影响，他们的判断严重失误。
The effect of inflation is analogous to levying a tax on bonds and using the revenue to pay off debt.
通货膨涨的效应犹如对债券征税，也如同用岁入来偿还债务。
It shows that the effect of inflation on economic growth turns from positive to negative as time goes by.
研究结果表明通货膨胀对经济增长的影响随时间由正变负，而经济增长对通货膨胀具有持续推动作用；
China's foreign exchange reserves have increased significantly the effect of inflation from results of empirical test.
有实证结果来看，我国外汇储备增加产生了明显的通货膨胀效应。
The Commerce Department says consumer spending, once tweaked to take out the effect of inflation, was flat in January — just as it was in December.
来自商业部的说法，一度被视为消除通胀效应良方的消费者支出在一月份表现平平，同去年十二月份相比毫无起色。
On an interview with reporters that the economic recovery is expected and the combined effect of inflation expectations, the stock market will extend upward.
接受记者采访的有关人士认为，在经济复苏预期和通胀预期的共同作用下，股市还将延续升势。
But now that Chinese wages are rising, the effect of the country's rapid industrialisation on world commodity prices is pushing up rich-world inflation.
但目前中国人的工资在上涨，中国快速工业化对世界商品价格的影响正在推高富裕世界的通胀水平。
The ECB is already tightening policy because of the effect of high commodity prices on euro-zone inflation.
受欧元区通货膨胀影响，商品价格居高不下，欧洲央行已在实施货币缩紧政策。
In the 1990s, the central bank recognized the benign effect of cheap imports on inflation but failed to adjust interest rates accordingly, leaving them too low.
1990年代，央行认可廉价进口对于通胀带来的积极影响，但维持了过低的利率，没有做出相应调整。
That would also have the effect of mopping up liquidity in the system and fighting inflation.
这样做还有回笼流动性、抗击通货膨胀的作用。
King said that the sharp fall in the value of the pound, if it continues, will be "a concern" and will have an effect on inflation.
金表示说，英镑的快速贬值如果继续下去，将是一个“忧患”，并将对通胀产生影响。
First, as Dean Baker notes, you have to bear in mind the fact that Japan's relatively low inflation steadily erodes the effect of any given yen rise on competitiveness.
但首先要记住，正如贝克尔院长(Dean Baker)所说的，日本相对低的通胀稳步得稀释了以上所说的任何日元的升值对竞争力的影响。
A rise in commodity prices or taxes has only a temporary effect on inflation, however, with the price rise dropping out of annual comparisons after a year.
不过，商品价格和税收对通胀的影响是暂时的，由于价格变动是同比数字，因此此类影响在一年之后就不复存在了。
That recession was, in effect, a deliberate creation of the Federal Reserve, which raised interest rates to as much as 17 percent in an effort to control runaway inflation.
那次衰退，实际上，是联邦储备局蓄意制造的产物，为了控制恶性的通货膨胀，美联储将利率提高到高达17%，导致了这次衰退。
The optimal inflation rate in an emerging economy is often higher than in the developed world because of something called the "Balassa-Samuelson effect".
因为所谓的巴拉萨——萨缪尔森效应新兴国家的最佳通胀率往往要比发达国家的高。
This had the effect of keeping the official inflation figure in single digits. Private estimates are much higher (see chart).
此举发挥了效用，让官方的通膨率维持在个位数，民间的估计值则高出甚多（参见附表）。
But wage inflation would risk fuelling more general price inflation, similar in effect to an appreciation of the Chinese currency.
不过，工资上涨可能刺激价格出现更为普遍的上涨，其影响与人民币升值类似。
To the extent that the effect on inflation of further gradual tightening in Labour market conditions is likely to be moderate and gradual, the case to tighten policy preemptively is less compelling.
劳动力市场状况进一步逐渐收紧对通胀的影响很可能是温和、渐进的，就此而言，先发制人收紧政策的理由不那么充足。
There was a downward effect on inflation from falls in the cost of financial services, following new guidelines for home mortgage charges by Britain's financial regulator.
金融服务成本下降对通货膨胀有一定的抑制作用，英国金融调节机构紧接着出台了一些房屋按揭收费的新准则。
As the effect of the commodity shock fades, expectations are likely to follow recorded inflation back down again.
随着商品价格震荡效力的削减，通胀预期也会随着通胀率从创纪录高点的回落而再次降低。
Keynes introduced Keynesian economics, which is an economic theory of spending in the economy, which is related to aggregate demand, and its effect on output and inflation.
凯因斯介绍了凯恩斯经济学，这是经济中的消费经济理论，这是与总需求，并对产出和通货膨胀的影响。
Central bankers in rich countries worry that persistent low inflation will feed expectations of static or falling prices-in effect, raising real interest rates.
富裕国家的中央银行担心持续的低通胀率会加剧人们对价格看跌或静止的预期，事实上，对实际利率提高的预期。
Nasty play of information inflation, make the advertisement dissemination effect research become an important topic in the process of the advertisement dissemination research more and more.
信息的急剧膨胀，使广告传播效果研究越来越成为广告传播过程研究中的重要课题。
Except for inspiration inhibition reflex, lung inflation might have another effect on respiratory center var vagus. It is mainly represented by the change of respiratory period.
除吸气抑制反射外，肺充气通过迷走神经对呼吸中枢可能产生了另一种作用，其作用效果主要体现在呼吸周期的改变上。
Except for inspiration inhibition reflex, lung inflation might have another effect on respiratory center var vagus. It is mainly represented by the change of respiratory period.
除吸气抑制反射外，肺充气通过迷走神经对呼吸中枢可能产生了另一种作用，其作用效果主要体现在呼吸周期的改变上。
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