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。
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.
然而，发行本币债券的国家，却能够保证一直都有充足的现金，因为它们总是能够迫使中央银行创造出货币。
States which issue their own bonds, however, can guarantee that the cash will always be available, because they can always force the central bank to create the money.
因为意大利债券收益率飙升，欧洲中央银行被迫插手干预。
With Italian bond yields soaring, the European Central Bank was forced to step in.
例如，这些新兴经济的中央银行大量购买美国债券使得债券利息下降，而这孕育了美国的过度贷款。
For instance, huge purchases of Treasury bonds by these central Banks have reduced bond yields, and so spurred excessive borrowing in America.
税收也有一些豁免，包括主要股票和债券的发行、即期外汇交易以及涉及中央结算所的交易。
There are several exemptions, including primary equity and bond issues, spot foreign-exchange deals and deals involving central clearing-houses.
拍卖前，欧洲中央银行曾实施干预措施，买入葡萄牙和其它一些欧元区债券。
Before the auction the European Central Bank intervened to buy Portuguese and other euro-area bonds.
转变是由于亚洲中央银行偏爱买入短期国债(公债)而导致债券市场扭曲。
The shift was due to a distortion in the bond market because Asian central Banks preferred to buy short-dated debt.
这样的政策是不可能的，因为当债券不能被足额收回的时会暴露中央银行的潜在损失。
Such a policy is unlikely as it would expose the bank to potential losses if bonds were not paid back in full.
中央银行已经准备好购买私人机构的资产，从而使存款再次流动起来，比如商业债券。
The central bank has already started buying private-sector assets, such as commercial paper, in an attempt to get credit flowing again.
意大利中央银行行长德拉基在经济思维上是无可挑剔的传统者，而且作为意大利人，在意大利特别脆弱的时候，如果扩大欧洲中央银行购买债券的数量，他会觉得非常困难。
The Italian central banker is impeccably orthodox in his economic thinking. Moreover he may find it hard, as an Italian, to expand the ECB’s bond-buying when Italy is especially vulnerable.
分析人员称，斯塔克反对中央银行购买债务缠身的成员国债券的政策。
Analysts say Mr Stark opposed the Central Bank's policy of buying the bonds of debt-ridden countries.
俄罗斯中央银行6月10日确认其可能将一部分国库储备用于购买IMF发行的债券。
Russia's central bank confirmed on June 10th that it may shift some of its reserves from Treasuries into IMF bonds.
如果是这样的话，达利(Daly)认为最好的解决办法是英格兰银行(中央银行)去购买商业银行发行的债券。
If that is the case, argues Mr Daly, the best solution would be for the bank of England to buy bonds issued by Banks.
玛斯克莱说，虽说在4月27日的会议上没有发生什么事情刺激弱不禁风的债券市场，但与马德里交涉迫在眉睫。 试译：玛斯克莱说加泰罗尼亚将与马德里的中央政府达成一项协议，但在4月27日的会晤中，这个协议并未达成，这使得证券市场出现了急剧的变化。
Mr Mas-Colell says a deal with Madrid will emerge, but it did not happen at a meeting on April 27th, making bond markets jumpier.
在过去一年里，作为银行监管者的各国中央银行及财政部排队解救欧洲银行的股东和债券持有人，以避免恐慌。
Over the past year bank supervisors, central bankers and national treasuries have queued up to bail out European Banks' shareholders and bondholders in a bid to avert panic.
因此，当意大利和西班牙的债券收益再次上涨(见图表)，只有一个机构有能力购买：欧洲中央银行。
So when Italian and Spanish bond yields jumped up again (see chart right) there was only one institution with the capacity to act: the ECB.
二级市场价格回升可能只是假象，因为无论无何，就希腊和葡萄牙而言，购买他们债券的真正买家是能是欧洲中央银行。
And improving prices in the secondary markets may be deceptive because in the case of Greece and Portugal, at least, the only real buyer seems to be the ECB.
低债券收益率正中央行下怀：这是他们刺激需求的主要手段。
Low bond yields should comfort central Banks: they are the main channel by which they hope to stimulate demand.
最近一次欧元债务危机爆发是在今年夏初，威胁到意大利1.9万亿欧元的债务市场，欧洲中央银行出手干预，开始购买意大利和西班牙债券。
The last time the euro debt crisis flared up earlier in the summer, threatening Italy's 1.9 trillion euro debt market, the ECB stepped in and started buying Italian and Spanish bonds.
随着银行盈利水平的上升，为了帮助中央汇金偿还债券利息而支付的股息所占比例也将下降。
As the Banks' earnings rise, the proportion that has to be paid out in dividends for Huijin to finance repayments drops.
第二，欧洲中央银行应该引导商业银行寻找达成快速的一致意见，从而拒绝接受“旧”债券作为抵押物。
Second, the ECB could induce commercial banks to seek a swift agreement by refusing to accept “old” bonds as collateral.
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.
为了阻止主权债务危机对欧洲大陆两大经济体造成损害，8月8日欧洲中央银行(ecb)开始购买意大利和西班牙债券。
On August 8th the European Central Bank (ECB) began buying Italian and Spanish bonds in an effort to stop the sovereign-debt crisis from crippling two of the continent's largest economies.
欧洲中央银行(ecb)早前购买债券并没有将较小的国家从极度高收益国债中解救出来。美联储较早的干预并没有激起经济强劲恢复。
The ECB's earlier bond-buying hasn't saved smaller countries from punitively high government-bond yields; the Fed's previous interventions haven't spurred a robust recovery.
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.
还有种方式，一些北美洲的官员私底下大肆吹捧，就是通过让投资者得到欧洲中央银行的无追索权贷款来引诱他们购买债券。
An alternative, quietly touted by some North American officials, is to tempt investors into buying bonds by giving them access to non-recourse loans from the ECB.
还有种方式，一些北美洲的官员私底下大肆吹捧，就是通过让投资者得到欧洲中央银行的无追索权贷款来引诱他们购买债券。
An alternative, quietly touted by some North American officials, is to tempt investors into buying bonds by giving them access to non-recourse loans from the ECB.
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