央行控制着控制着狭义货币供应量，这被称作基础货币——通常是流通货币加上商业银行和中央银行的贮备货币。
Central Banks control the narrowest measure of the money supply, called the monetary base-typically, currency plus the reserves that commercial Banks hold with the central bank.
但是现在一切都反了过来，市场担心美联储会停止在5%上，而与此同时，欧洲中央银行正在加息并且日本央行也可能加入这个行列。
Now the tables are turned: markets are worried that the Fed will stop at 5%, but the European Central Bank is raising interest rates and will probably soon be joined by the Bank of Japan.
中央银行昨日公布的人民币兑美元参考汇率为7.9598，此汇率为外汇交易的中间价，由央行每日公布。
The reference rate of the renminbi, or yuan, was fixed at 7.9598 against the greenback yesterday.The rate is set by the central bank each day as the central parity for foreign exchange trade.
中央银行昨日公布的人民币兑美元参考汇率为7.9598，此汇率为外汇交易的中间价，由央行每日公布。
The reference rate of the renminbi, or yuan, was fixed at 7.9598 against the greenback yesterday. The rate is set by the central bank each day as the central parity for foreign exchange trade.
中央银行管理是一项微妙的艺术，在很大程度上有赖于央行让自己显得无往不利的能力。
Central banking is a subtle art that rests largely on the institution's ability to convey an aura of invincibility.
（尽管明年的预算很爽快地假定了1.5%的经济增长）央行行长泽利科·罗哈丁斯基（ZeljkoRohatinski）表示欧洲中央银行行长杰-克劳德·特里谢（Jean-Claude Trichet）最近警告他克罗地亚正走上“灾难”之路。
Zeljko Rohatinski, governor of the central bank, says that Jean-Claude Trichet, the president of the European Central Bank, warned him recently that Croatia is on the road to “catastrophe”.
欧洲中央银行行长让-克罗德·特里谢(Jean - Claude Trichet)回忆起欧洲央行2008年7月上调利率，那时通胀的忧虑超过了了摇摇欲坠的经济。
Jean-Claude Trichet, the President of the European Central Bank, has been talking tough, recalling the ECB's July 2008 rate rise when concern over inflation trumped a wobbling economy.
许多人认为，商业银行的流动性已不再充裕：欧洲央行应像美联储和英格兰银行一样使用中央银行资金购买包括公共债务在内的资产。
Many believe that ferrying liquidity to commercial Banks is no longer enough: the ECB should follow the Fed and the bank of England in using central-bank money to buy assets, including public debt.
澳，挪两家央行连续降低基准利率，幅度远远超过美联储和欧洲中央银行(参见图表)。
Both Banks have cumulatively slashed their key interest rates by more than the Federal Reserve and the European Central bank (see chart).
银行和其他债权方将会避免这样。二，欧洲央行（ECB）已经说明了充足的违约债务不能用于中央银行的抵押物，但是自愿性的新贷款可以作为央行的抵押物。
Second, the ECB has indicated that restructured debt that is the result of a default will not be eligible as collateral at the central bank while new loans that are voluntarily made will be.
各中央银行也进入全面的救火模式，尤其是，欧洲央行必须提供两年的无限量流通性，这点将会在即将发行的经济学人中看到。
Central Banks must get into full fire-fighting mode, too. In particular, that means offers of unlimited two-year liquidity from the ECB, which was due to meet after the Economist went to press.
与这两家央行相比，欧洲中央银行仍在大胆出击与谨慎行动之间徘徊。
But the European Central Bank (ECB) was stuck somewhere between caution and boldness.
与把央行票据性质定位为中央银行债券的传统角度不同，本文从债务置换工具的视角重新阐释了央行票据的性质。
Unlike the former view that the character of Central Bank Bill is bond issued by Central Bank, this paper afresh explains its character from debt replacement instrument.
至少BullionVault公司的一些顾客可能是并不太相信欧洲中央银行“清理”活动的德国人，为了抵消央行购买债券的货币影响而买入黄金。
At least some of BullionVault's customers are probably Germans unconvinced by the ECB's "sterilisation" to offset the monetary effects of its bond purchases.
保守的央行行长们担心这仍将会破坏禁止欧洲中央银行直接购买债券的规定，至少在精神上破坏了规矩。
Conservative central bankers worry that it would still break the rule that bans direct purchases by the ECB, in spirit at least.
我国的“外汇资产—人民币”发行模式导致了货币的超额发行，央行票据是对中央银行超额发行债务的置换。
Because of RMB's excess issue through "foreign currency assets - RMB" model in China, Central Bank Bill as a debt tool has been replacing the excess currency.
此外，我们相信，我们需要来自欧洲中央银行和日本央行的更多流动资金。
Also, we believe more liquidity is necessary outside the US, from the ECB and the BoJ.
关于中央银行们即将出手干预，以阻止美元下滑的传闻甚嚣尘上，特别是在欧洲央行行长让-克劳德·特里谢声称最近的动向“一片混乱”、“令人不快”之后更是愈演愈烈。
Speculation is rising that central Banks may intervene to halt the dollar's slide, especially since Jean-Claude Trichet, the ECB's President, called recent moves "disorderly" and "undesirable".
然而，欧洲中央银行向来在金融危机处理方面最为灵活，但这次在减少商业银行间隔夜拆借利率方面也不比其他央行成功。
Yet the European Central bank, which has been the most flexible in handling the money-market crisis, has had little more success than anyone else at reducing Banks' borrowing costs.
中央银行，如美联储和欧洲央行已经提供无限制的流动性对抵押品。
Central Banks such as the Fed and the ECB already provide unlimited liquidity against collateral.
指商业银行存放于中央银行的资金，目的是用来结算每个营业日结束后银行系统与央行间的最终头寸。
The funds deposited by commercial bank in the central bank is used to settle the final position between the banking system and central bank at the end of the day.
今日英国央行和欧洲央行宣布降息的消息，只会加剧这样的感觉，即中央银行在面对经济衰退前越来越无助。
The announced rate cuts by the BoE and ECB today only exacerbates the feeling that Central Banks are increasingly helpless in the face of recession.
最近，市场传言中国中央银行已经展开调查，来确定这些主张是否有可取之处，央行自身的这一动向可能已经对市场产生了压制作用。
Recently rumours have circulated that the People's Bank of China has initiated investigations to determine if these claims have merit—a move which, by itself, may have put a damper on the market.
最近，市场传言中国中央银行已经展开调查，来确定这些主张是否有可取之处，央行自身的这一动向可能已经对市场产生了压制作用。
Recently rumours have circulated that the People's Bank of China has initiated investigations to determine if these claims have merit—a move which, by itself, may have put a damper on the market.
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