Of course, to guard against inflation it would be far better to anchor a currency to a tradable index of real things than to paper currencies.

当然，要防止通胀，以一个可以成交的实物价格的指数为锚，远胜一篮子用纸造的货币。

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For months, professional and individual investors in the US piled into silver to protect against weakening value for the greenback, and to guard against a pickup in inflation.

数月以来，美国专业投资者和散户纷纷购入白银，用来对冲美元的贬值，并防范通货膨胀加剧。

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That said, Asian policy makers are faced with a "delicate balancing act" to guard against risks to growth while limiting the impact of inflation.

尽管如此，亚洲决策者正面临如何实现“微妙的平衡”：在限制通货膨胀影响的同时，防范经济增长的潜在风险。

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China's central bank Gov. Zhou Xiaochuan said last month that he is on guard against inflation and that monetary policy is now "neutral, " after a slightly easy policy stance in the past year.

WSJ: Investors Seek Clarity From People's Bank of China

They were right about this, and a whole generation of free-market intellectuals has been on guard against the threat of inflation ever since.

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Even if monetary policy is not stifling growth, the bank's language constantly gives the impression that policy needs to be tight to guard against the ever-present threat of inflation.

ECONOMIST: The European Central Bank