To influence demand, the central banks move a short-term interest rate up or down by adjusting the supply of bank reserves.

为了影响需求，中央银行通过调节银行储备货币的供应来抬高或降低短期利率。

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First of all, the prime lending rate is the interest rate that Banks charge each other for short term loans.

首先，基本放款利率是银行间相互进行短期借贷时使用的利率。

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It is not going to be easy in an economy where highly controlled financial markets render normal instruments of monetary control (for example, the short-term interest rate) relatively ineffective.

在中国，受到高度管制的金融市场使通常的货币控制工具（例如短期利率）的效率相对较低，因此要想遏制通胀并非易事。

youdao

And if central bankers sought to control money, however defined, by targeting the monetary base cash in circulation and commercial-bank reserves held with the central bank they lost control of the short-term interest rate, which might move erratically and damage the economy.

ECONOMIST: Economics focus

Careful debt-management strategies that avoid short-term borrowing or the bunching of maturities and hedge against interest-rate or exchange-rate swings should come high on the agenda.

ECONOMIST: Down but not out

Following two days of sell-offs in stock markets across the globe--and a week ahead of its Federal Open Market Committee meeting (when the rate cut was expected)-- the Fed slashed short-term interest rates by three-quarters of a percentage point, its single most dramatic rate reduction since 1984.

FORBES: Confidence Game