Devaluation is an exchange rate policy.
货币贬值是一种汇率政策。
China 's exchange rate policy is part of the problem.
中国的汇率政策是导致问题的一个原因。
They could formulate an exchange-rate policy for the euro.
他们可能为欧元制定一项汇率政策。
Part One defines the availability of interest rate policy.
首先对利率政策的有效性进行界定。
So they are accustomed to outsourcing their interest-rate policy.
因此他们习惯于外购其利率政策。
Eventually, it arrived at the ZIRP: the zero interest rate policy.
最终，日本银行走到了zirp：零利率政策。
The conclusion is that Asian exchange-rate policy is perfectly rational.
结论是，亚洲汇率政策完全是有理性的。
The effectiveness of interest rate policy is determined by the elasticity of monetary demand.
利率政策的有效性取决于货币需求的利率弹性。
In this sense, inflation can hardly be the main factor in determining the exchange rate policy.
从这个意义上说，通胀很难说是决定汇率政策的主要因素。
To Ms Merkel's mind, the problem is America's borrowing and spending rather than China's exchange rate policy.
在默克尔心目中，问题在于美国的借债和消费，而不是中国的汇率政策。
Any change in the exchange rate policy is responsive to the overall situation of the economy of that country.
汇率的变动也是由经济的综合情况来决定的。
Secondly, depository reserve as a monetary policy instrument shares similar changes with interest rate policy.
其次，作为货币工具的存款准备与利率政策做相似的转变。
"There are colleagues in the European Council who think that the euro zone should have an exchange rate policy," he said.
“欧盟理事会有同行认为欧元区应该引入汇率政策，”他说，“我非常赞同这一观点。”
Oman had already withdrawn from the monetary-union project. so they are accustomed to outsourcing their interest-rate policy.
阿曼已经退出了货币联盟项目。所以这些国家已经习惯了被动接受的利率政策。
Second, the BoJ stated that it would maintain the virtual zero-rate policy until there was "medium - to long-term price stability".
第二，日本央行宣布除非在中长期的物价稳定能够到来，否则他们将坚持实际利率为零的政策。
The trick for them will be to handle the liberalisation of capital regimes without wrecking interest- and exchange-rate policy.
对于他们而言，更大的问题是如何处理资本的自由化制度，尤其是这些破坏利率和自由兑换的政策。
Criticizing the Federal Reserve's zero-interest-rate policy is the new national pastime, thanks to a surge in commodity prices.
但随着大宗商品价格飙升，批评美联储(FederalReserve)的零利率已成为美国人茶余饭后的新话题。
That interpretation sits awkwardly with another: that excess saving, particularly in China, is the result of exchange-rate policy.
该项诠释与另一项“相映成翠”：储蓄过量（尤其是中国）是由汇率政策所导致的。
Second, the BoJ stated that it would maintain its virtual zero-rate policy until there was “medium- to long-term price stability”.
第二，日本银行将维持接近零利率的政策，直到市场达到中期或长期的价格稳定。
The Fed meets Tuesday on interest-rate policy amid a flurry of reports that it is considering additional ways to juice the financial system.
在一系列新出炉报告的刺激下，周二联储会议议题是利率政策，即考虑其它刺激金融体系的方式方法。
The bulls say that trusts represent healthy interest rate competition, a way for corporations to put pressure on regulators to liberalize interest rate policy.
赞成派认为信托业务代表了健康的利率竞争，随之而来的压力将迫使决策者们放宽利率管制政策。
If we stick to the zero interest rate policy for too long, we risk a degree of economic instability much more extreme and costly than the recent financial crisis.
如果我们维持零利率政策过久，那么未来经济不稳定的程度就有可能比最近的金融危机极端得多，代价也更高。
If we stick to the zero interest rate policy for too long, we risk a degree of economic instability much more extreme and costly than the recent financial crisis.
如果我们维持零利率政策过久，那么未来经济不稳定的程度就有可能比最近的金融危机极端得多，代价也更高。
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