只要联储局的行为是在回应这一需求，那么货币供给的增加并不带有通货膨胀性。

As long as the Fed is responding to demand, an increase in the money supply is not inflationary.

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正当不列颠在整个二十年代期间实施通货膨胀性政策时，其货币所含的黄金价值在对比其他国家的货币，主要是在对比美国货币时不断下降。

While Britain ran its inflationary policies during the 1920's, it was losing gold to other countries, mainly the United States.

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同时，由于货币供应量与通货膨胀之间的相关性被破坏，货币供应量目标也不再适合我国；

On the other hand, monetary targeting is not even an alternative for China because of the breakdown of the relationship between monetary aggregates and inflation.

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