The central Banks' credibility depends on being prepared to do two unpopular things: raising interest rates, despite the economic pain, and letting financial institutions fail.

中央银行的信誉就是建立在时刻准备做出两件不受欢迎的决定的基础上：不顾经济苦难而提高利率，以及放手让部分金融机构崩溃。

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If they cannot, they will lack the credibility to win capital-raising business from the world's companies and governments.

ECONOMIST: Out of their league?

The central banks' credibility depends on being prepared to do two unpopular things: raising interest rates, despite the economic pain, and letting financial institutions fail.

ECONOMIST: The credit crunch

They point out that by raising the issue at all, at such a high level, the church is granted the theory some credibility.

BBC: Despatches