... accommodation party: 融通人 active circulation: 流通中的货币 active money:流通货币(相对于银行账户中的货币) ...
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当利率下降，持有货币的成本会随之减少，流通中的货币增加，从而意味着更多的消费支出。
When interest rates are cut, the cost of holding money goes down; and more money in circulation means more spending.
当通胀被合理预期，流通中的货币总量增加；由于通胀腐蚀了现金的价值，人们将更少的持有现金。
When inflation is anticipated, the amount of money in circulation increases; people hold smaller cash balances because inflation erodes the value of cash.
货币基础包括流通中的货币，而货币的发行量是公众所熟悉的东西，我们每天都会接触它。
The monetary base includes currency in circulation, while the circulation of the currency is something familiar to the public, and we deal with it every day.
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