And a country cannot control its monetary policy unless it accepts a more flexible exchange rate.

一个国家只有采取更具弹性的汇率制度才能控制金融政策。

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And 09 are still expected a certain price control failure, tight monetary policy difficult, the potential risks of worsening inflation.

而预期09年仍存在一定的价格管制失效、货币紧缩政策难以为继、通胀恶化的潜在风险。

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In short, having lost their ability to control their monetary policy, voters may have to lose control over their fiscal policies as well.

ECONOMIST: Market discipline works when other controls fail

Ironically, Brown has been credited with much of the success of Britain under Blair: a stable economy, low unemployment and a monetary policy free of political control.

FORBES: Magazine Article

Inflation was believed to be driven largely by non-monetary factors, and most people believed that if you tried to control inflation using monetary policy, the primary effect would be to throw a lot of people out of work.

FORBES: The Swing of the Monetary Pendulum