寄住姐妹:请翻译短文

来源:百度文库 编辑:查人人中国名人网 时间:2024/04/29 12:46:36
Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit

星期三的决定
在星期三 PBoC 上它会经过国库帐单议题排出沟外来自金融市场的较多基金。

昨天 PBoC 发行了三个月的期票券的达到四百五十亿个人民币。 这数量是 30% 超过数量发行上星期。有趣地,这在被保证的中国人银行之后被,在货币政策报告星期三出版的它第一季内, 加速努力保存检查的流动性。

" 为了要向银行业系统的相对地充足的流动性发表演说, 我们将会加强自由市场 (OMOs) ,用其他的货币政策改良 OMOs 的协调,而且增加 OMOs 的能力影响信用而且利率...,"
中央银行说。

问题是否这些努力会导致短期利率的重要增加。

结论
我们一些兴趣的理由率不非常升起。

首先,有进位贸易议题。利率的突然增加会邀请较思索性的首都和可能对进一步的流动性困难带领。

其次, 有股票市场。 在好几年的衰微股票市场之后正在今年做得好。 但是国际的存货市场是搬进一个困难的时期和附加国内的短中国的率增加重要地,中国的股票市场再一次可能改变方向。 这将会为预期的 IPO's 使它更困难是成功的。

最后,短比率的重要增加可能最后有在个人的消费开支上的有害效果。 这, 主管当局想要拿的方向不是,我们相信。

改为我们认为主管当局将会藉由使用其他的工具相似的预备品需求试着控制过度流动性不但藉由使用利率 , 而且,信用控制,税…

换句话说,金融市场的勒紧将会被藉由变更所有的工具做, 只有小一点点

星期三的决定
在星期三 PBoC 之上宣布它会经过国库帐单争议排出沟外来自金融市场的较多基金。

昨天 PBoC 在三个月的期票券中发行达到?κき?货个人民币。 数量是 30% 超过 数量上星期发行。有趣的,在保证的中国人银行,在它的第一- 四分之一货币政策报告中星期三出版之后 , 这被宣布, 加速 努力把流动性留在检查中。

"为了要在银行业系统中相对地演说充足的流动性, 我们将会加强公开的市场操作 (OMOs) ,用~改良 OMOs 的协调其他的货币政策工具,而且增加 OMOs 的能力影响信用而且利率。。,"。
中央银行说。

问题是否这些努力会导致~的重要增加~短期兴趣率。

结论
我们为不在非常升起的兴趣率看见一些理由。

首先,有进位贸易争议。 ~的突然增加~利率会对进一步的流动性困难邀请比较思索性的首都和力气领引。

其次,有股票市场。 在一些年衰微股票市场之后正在今年很好地做。 但是国际的股票市场是重要的搬进中国增加的一个困难的时期和附加佣人短率,中国的股票市场再一次可能改变方向。 这将会为预期的 IPO's 使它更困难成功。

最后,~的重要增加~短比率可能最后有个人的消费开支上的有害效果。 这, 方向不是主管当局吗想要拿,我们相信。

改为我们认为主管当局将会试着去控制过度流动性藉由使用像预备品需求一样的其他工具不但藉由使用兴趣估价 , 而且,信用控制,税…

换句话说,金融市场的勒紧将会被藉由变更所有的工具做, 只有小一点点.
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Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit

请在金山快译里打此文就能得到译文Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit

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Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit
提问者:jxytwc13 - 试用期 一级

答复共 2 条
Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit
回答者:543966463 - 魔法学徒 一级 6-1 18:29

请在金山快译里打此文就能得到译文Wednesday’s decisions
On Wednesday PBoC announced that it would drain more funds from the money market through treasury bill issues.

Yesterday PBoC issued up to 45 billion RMB in three-month bills. This amount is 30% more than the amount issued last week. Interestingly, this was announced after the People's Bank of China pledged, in its first-quarter monetary policy report published Wednesday, to step up efforts to keep liquidity in check.

"To address relatively ample liquidity in the banking system, we will strengthen open market operations (OMOs), improve the coordination of OMOs with other monetary policy tools, and increase the ability of OMOs to influence credit and interest rates ...,"
the central bank said.

The question is whether these efforts would lead to a significant increase in short term interest rates.

Conclusions
We see several reasons for interest rates not raising very much.

First, there is the carry trade issue. A sudden increase in interest rates would invite more speculative capital and might lead to further liquidity difficulties.

Second, there is the stock market. After several years of decline stock market is doing well this year. But the international stock markets are moving in a difficult period and in addition domestic short rates in China increase significantly, China’s stock markets may again change direction. This will make it more difficult for the expected IPO’s to be successful.

Finally, a significant increase in short rates may eventually have a detrimental effect on the personal consumption expenditures. This, is not the direction the authorities would like to take, we believe.

Instead we think that the authorities will try to control the excess liquidity not only by using interest rates, but also by using other tools like reserve requirements, credit controls, taxes…

In other words, the tightening of the money market will be done by changing all the tools, only a little bit
回答者:瑾瑾8 - 魔法学徒 一级 6-3 17:36

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