上一讲中我们为您介绍了 floating exchange rates 和 fixed exchange rates,浮动汇率与固定汇率。澳广金融节目主持人巴里克拉克介绍说,二十世纪的固定汇率制不仅未能保持汇率的稳定,而且还为投机者提供了机会。 但是实行浮动汇率制也同样有它的不利之处。不断变化的汇率为工商业的运作带来许多不确定因素。
- j- u m2 r) b% c 不过,澳洲广播电台金融节目主持人巴里克拉克继续介绍说,各国的中央银行或储备银行大都会在关键时刻对市场进行干预,以减缓货币汇率的剧烈动荡。
& p+ m$ H- a; U+ { 巴里克拉克在他的讲话中提到了这样一些词汇:' \# u4 F P* M) N+ k
1 reserve bank 储备银行2 cushion 缓冲垫,减震器3 intervene 干预4 contention 辩论5 on balance 总的来说6overshooting 过火,过激
: ]. X8 V6 d& x7 Q 下面我们听一遍巴里克拉克的谈话及中文翻译:
8 f# f2 Q" @! V* ^! C: G the reserve bank tries to play a role in providing a comfort cushion by intervening from time to time in the foreign exchange market with a view to limiting its more extreme fluctuations.; k( I/ U3 w- [% Y* m; ]% n, j |
whether the central bank should be doing this, and whether it actually can influence exchange rates in the face of market forces, are matters of some contention.
5 C7 K+ Z' |) b0 u( g( K+ \' B6 }. n5 e9 v! e, x" d; k9 Y
from its own analysis, the reserve bank is persuaded that, on balance, it plays a useful role in limiting overshooting in the market. |