For some central Banks, taking financial markets by surprise with a sudden increase or cut in rates was almost a matter of honour.

一次出乎金融市场意料的忽然加息或者降息对有些央行而言几乎成了一种荣耀。

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Although some central Banks are winding down a few unconventional measures, this should not be mistaken for a big policy shift.

尽管一些中央银行已经开始逐步取消一些非常规措施，但这并不能被误解为一次大的政策调整。

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Some have criticised the central Banks for their "bailout".

一些人批评中央银行这种“挽救”。

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In particular, it should set a formal inflation target, as is done for some other independent central banks, such as the Bank of England.

ECONOMIST: Japan��s economy

Central banks have expected for some time that the millennium will bring pressure on liquidity, as individuals and companies stockpile cash.

ECONOMIST: Nothing to fear but fear itself | The

It sometimes feels that way today: for while there is much statistical information published by the central banks, and while some are now even putting themselves up for ritual grillings by journalists, it's very hard to find a hard-edged discussion of the economic, political, diplomatic and strategic role of central banks within the current system.

BBC: Central banks are part of the state