汇率制度表现为单一钉住美元制,利率仍受管制。
And exchange rate regime shows as single-pegged dollar (exchange rate) regime, and interest rate is still restricted.
中国利率政策的行为表明,钉住汇率下的独立性是以利率政策的有效性损失为代价。
The action of China's interest rate policy shows that the independence of interest rate policy is won by the effectiveness losses under the pegged exchange rate.
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