他们必须做出自己的选择,当然是从各自的角度出发,不同国家的中央银行都有不同的目标,不同的权限。
They have to make their own choice and it follows from that, of course, that central Banks in different countries have different objectives, different terms of reference.
相比之下,把价格水平作为目标的中央银行为了弥补差额,在下一年它将力图把通胀率提高到3%以使价格水平达到104。
In contrast, a central bank that targets the price level wants to make up any lost ground on prices. It would seek to raise inflation to 3% in the second year to get to a target of 104.
所以让中央银行来负责宏观上谨慎的目标是行得通的。
So it makes sense for the central banks to be in charge of the macro-prudential bit.
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