To mop up excess liquidity, China's central bank has raised commercial Banks' reserve requirement ratio four times and raised benchmark interest rates twice since the beginning of this year.

为了解决流动性过剩的问题，今年年初，中国中央银行就已经把各商业银行的规定准备金比率提高了四倍，基准利率提高了两倍。

youdao

But if this trend in private bank money creation continues, it does augur for higher rates of monetary inflation, especially, as Chairman Bernanke suggested at Jackson Hole in August, if aided and embedded by a reduction in the rate of interest the Federal Reserve pays banks on those excess reserves.

FORBES: Monetary Watch October 2010: Banks printing money again, QE II in November?

Every time the Federal Reserve (and the central banks before it) created an excess of money, either by keeping interest rates too low or by injecting liquidity into banks, prices inflated.

FORBES: Anna Schwartz, Monetary Historian, RIP