他们援引英国与意大利的例子，此二国于1992年放弃货币钉住政策，随后经济迅速复苏。
They point to Britain and Italy, which abandoned their currency pegs in 1992—and then recovered quickly from recession.
不过，自北京3年多前放松了钉住美元的政策以来，人民币兑欧元汇率实际上出现了下跌，自2005年以来欧元兑人民币升值了约2.6%。
Yet since Beijing loosened its peg to the dollar more than three years ago, the yuan has actually fallen against the euro, pushing the European currency up about 2.6% against the yuan since 2005.
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.
现行的人民币＂软钉住＂美元的汇率政策应是当前以及未来相当长时期内中国的最佳选择。
The current exchange rate regime of "soft pegging"to dollar is the best choice for China both currently and in the near future.
如果欧洲闭嘴不提要求中国放松钉住美元政策的话，那或许是因为他们预见到了自己要为这一要求所做出的让步。
If the Europeans shrink from demanding that China cease pegging to the dollar, it's perhaps because they anticipate the concession that would be asked of them.
在钉住美元的汇率政策下，海湾国家为了不让自己的货币升值，只能买入美元。
These links have obliged them to buy dollars, so as to prevent their own currencies from rising.
在钉住美元的汇率政策下，海湾国家为了不让自己的货币升值，只能买入美元。
These links have obliged them to buy dollars, so as to prevent their own currencies from rising.
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