This followed a tightening in monetary policy that lifted the base rate from 3.5% in October 2003 to 4.75% in August 2004.
然而随后货币紧缩的政策又将2003年10月份3.5%的基础利率上调至2004年8月份的4.75%。
Hence the analogy that likens the conduct of monetary policy to driving a car with a blackened windscreen, a cracked rear-view mirror and a faulty steering wheel.
因此，有人将货币政策的实施比作驾驶一辆挡风玻璃变黑、后视镜破裂、方向盘失灵的汽车。
Hence the analogy that likens the conduct of monetary policy to driving a car with a blackened windscreen, a cracked rear-view mirror and a faulty steering wheel.
因此，有人将货币政策的实施比作驾驶一辆挡风玻璃变黑、后视镜破裂、方向盘失灵的汽车。
The central bank says that it will soak up the cash, for instance, by selling instruments of its own, so monetary policy will not be loosened.
中央银行说道，例如通过出售自己的债券，它将会迅速吸收大量现金，所以货币政策将不会放松。
Pessimists point to Japan's travails as a lesson in how a deflating asset-price bubble and a vast overhang of debt can defeat all that monetary and fiscal policy can throw at it.
悲观主义者以日本的痛苦经历作为一个教训，告诉我们资产价格泡沫破灭和巨大的债务负担是如何击败所有可以实施的货币和财政政策。
He added that the Bank of England's monetary policy committee (MPC) may end up needing yet another sharp fall in sterling to get CPI inflation near 2% next year.
他补充到，英国央行的货币政策委员会(MPC)最终可能得再次大幅贬值英镑，才能使英国明年的CPI通胀率接近目标值2%。
Another reason to expect an upturn is that monetary and fiscal policy are working flat out to revive the economy.
另一个另人们期待经济上扬的原因是，货币和财政政策正在竭尽全力振兴经济。
Removing some of the current fiscal stimulus is likely to reduce the work that monetary policy will otherwise need to do.
取消一些货币激励政策可以减少一些需要另外通过金融政策来解决的工作。
The difficulty for the bank’s monetary-policy committee (MPC) is that there will be yet more temporary factors pushing inflation up over the next year.
英国银行货币政策委员会的难处在于，明年还将会有更多的暂时性因素推高通胀。
That leaves it to the Bank of England's monetary-policy committee to fire-up the economy.
这就需要英国银行的货币政策委员会去振兴经济了。
The difficulty for the bank's monetary-policy committee (MPC) is that there will be yet more temporary factors pushing inflation up over the next year.
英国银行货币政策委员会的难处在于，明年还将会有更多的暂时性因素推高通胀。
In August the bank's monetary-policy committee (MPC) forecast that consumer-price inflation would fall back to its official 2% target, but only after a period of economic weakness had drawn its sting.
8月份英格兰银行的货币政策委员会(MPC)曾预测，消费价格上涨将跌回2%的官方目标，但仅仅一段时间的经济疲软已经触及它的痛处。
The Bank of England’s monetary-policy committee reckons that output will be flat, but even that may prove optimistic.
英格兰银行的货币政策委员会认为产量将放平，但即使这样仍然显得有些乐观。
He wrote in his letter today that policy-makers "stand ready to expand or to reduce the extent of monetary stimulus" as needed, prompting Mr Osborne to reply that he welcomes the bank's "flexibility."
行长今天在给财政大臣的信中写道，要按实际需要“准备好扩张或者控制货币刺激”，这也让财政大臣奥斯伯尼乐意接受银行的“灵活”政策。
Such dismal news appears to vindicate critics who say that the Bank of England's Monetary Policy Committee (MPC) has forsaken its job of meeting the inflation target.
上述消息令人堪忧，似乎恰好证实了一些评论员的观点。他们称央行的货币政策委员会简直是将保证通胀目标的职责弃之不顾。
The Fed's classic mistake that led to the Great Depression was that it tightened monetary policy when it should have eased.
美联储引领大萧条的经典错误在于当萧条减缓时候紧缩了银根。
Mr Posen argued that the monetary-policy committee should opt for printing more money and should not “settle for slow growth out of misplaced fear of inflation”.
Posen先生表明，货币政策委员会应该选择加大货币发行量的做法，而不应该选择“因过于害怕通胀而放缓经济增长”的做法。
Because America's recovery is strongest, that is where debate about how fast to return monetary policy to normal is fiercest.
由于美国的经济恢复是最强劲的，关于财政政策多快恢复至正常这个话题，在美国也是讨论最为激烈的。
But there are many more extensive consequences of interest rate changes, and that is why setting monetary policy is a challenging task.
但是利率的变化会有更为广泛的影响，所以制定财政政策是很有挑战性的任务。
That will force the Reserve Bank of India to tighten monetary policy. Goldman Sachs expects it to raise rates by as much as three percentage points in 2010.
高盛预期印度的价格指数将在2010年上升3个百分点。
Be aware that policy co-ordination is an essential ingredient for a monetary union to work.
要注意，政策协调是一个货币联盟能否运转的关键。
Minutes of the Fed's meeting released yesterday showed that policy makers were divided on whether additional monetary stimulus will be needed if the outlook for economic growth remains weak.
昨天发布的美联储会议纪要表明，在如果经济增长前景走淡是否需要新的额外货币刺激方面，政策制定者们存在分歧。
Then the paper discussed how it exerts the influence on monetary policy under the presumption that the scale of virtual currency is big enough to exert this influence.
目前学术界对虚拟货币的概念存在多种说法，本章在对这些说法进行介绍和比较后，归纳出现阶段虚拟货币的三大特点。
While the market may have reacted to King's fairly dovish comments yesterday, today it was reminded that his is only one view on the Monetary Policy Committee.
市场或已对金恩昨天相当温和的评论做出反应，但今天或记起他是货币政策委员会中唯一一个发表看法的成员。
While the market may have reacted to King's fairly dovish comments yesterday, today it was reminded that his is only one view on the Monetary Policy Committee.
市场或已对金恩昨天相当温和的评论做出反应，但今天或记起他是货币政策委员会中唯一一个发表看法的成员。
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