In the 1960s and 70s central banks around the world were inflating the currency.

在六十年代和七十年代，世界各地的中央银行,都在使货币上涨。

耶鲁公开课 - 金融市场课程节选

It was something like a central bank but it was different essentially in that the National Banks really didn't have authority to run monetary policy.

它像是个中央银行,但是在本质上不同,因为国家银行真的,没有什么权力运行货币政策。

耶鲁公开课 - 金融市场课程节选

It's exactly what we did with the World Bank and the IMF, with the Mashall Plan, with then the Alliance for Progress later, looking at Latin America.

就像当初我们和世界银行以及世界货币基金组织，像我们的马歇尔计划，和之后的进步联盟，再看看拉美。

普林斯顿公开课 - 国际座谈会课程节选

The following lecture will be about banking, the supply of money and the money multiplier.

接下来的课我们讲银行业,货币供应和货币乘数

耶鲁公开课 - 金融市场课程节选

So we're seeing an internationalization of bank monetary policy.

共同研究出来的,所以，我们正经历着银行货币政策的国际化。

耶鲁公开课 - 金融市场课程节选

The member banks just as with the Bank of England when they're in trouble they are supposed to be able to borrow money from the central bank.

会员银行，就像英格兰银行的会员银行一样,当它们陷入困境时,它们可以向中央银行借入货币。

耶鲁公开课 - 金融市场课程节选

The currency is centralized at the European Central Bank.

货币在欧洲中央银行,被统一了。

耶鲁公开课 - 金融市场课程节选

What the term auction facility it was also created in connection in collaboration with the Bank of Canada the Bank of England the European Central Bank and the Swiss National Bank.

货币短期拍卖,同时也是联系着,与加拿大银行，英格兰银行,欧洲中央银行，和瑞士国家银行。

耶鲁公开课 - 金融市场课程节选

Inflation is the most important thing according to many views because the Fed has to guarantee the soundness of the money supply -- and there have been so many cases in history when the central bank allowed debasement of the currency through inflation.

通货膨胀是最重要的事情,根据很多观点,因为美联储必须保证,货币供应的稳固,并且在历史上有太多的例子,当中央银行允许,通过通货膨胀改造货币。

耶鲁公开课 - 金融市场课程节选