At a fixed exchange rate, a current account surplus not offset by a corresponding voluntary capital outflow will generate an increase in the monetary base.

在汇率固定的情况下，如果没有相应的自愿资金外流，来抵消经常账户盈余，就会造成货币基础的增长。

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It is also a synthetic unit of account, a monetary basket with the following weights: US dollar 44%, euro 34%, yen and sterling 11% each.

它也是一种人为的账户单位，是一种具有以下权重的货币篮子：美元44%，欧元34%，日元和英镑各为11%。

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But if the world's biggest economy stagnates and the second-biggest keeps its currency cheap and its capital account closed, a rigid monetary system will eventually buckle.

但是如果世界最大的经济体停滞不前，而第二大经济体保持其货币处于低汇率和封闭的资本账户，那僵化的货币体系必将走向腐朽。

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Generally, the strong pound has been a burden on UK manufacturing, and the Bank of England seems to be taking this into account when deciding on monetary policy.

BBC: Pound hits four-year low

The longer-term challenge for the Fed and other central banks is to build a new monetary-policy framework that takes account of recent structural changes in the global economy, such as the integration of China.

ECONOMIST: Yesterday's financial architecture needs refurbishing

Mr. Subbarao, while speaking at an event in the western Indian city of Ahmedabad, said the RBI will factor in the current-account gap while formulating its monetary policy.

WSJ: India RBI Warns on Inflation, Current-Account Deficit