Monetary policy · 货币政策
| English | 中文 | Pinyin · 拼音 |
|---|---|---|
| borrowing/ˈbɒrəʊɪŋ/ | 借贷 | jiè dài |
| interest rate/ˈɪntrest reɪt/ | 利率 | lì lǜ |
| monetary policy/ˈmʌnɪtəri ˈpɒlɪsi/ | 货币政策 | huò bì zhèng cè |
| central bank/ˈsentrəl bæŋk/ | 中央银行 | zhōng yāng yín háng |
| money supply/ˈmʌni səˈplaɪ/ | 货币供给 | huò bì gōng jǐ |
| inflation target/ɪnˈfleɪʃn ˈtɑːɡɪt/ | 通胀目标 | tōng zhàng mù biāo |
| investment/ɪnˈvestmənt/ | 投资 | tóu zī |
The price of borrowing 借贷
- Change one number — the interest rate 利率 — and mortgages, business loans and savings all move with it.
- Steering that rate is the heart of monetary policy 货币政策.
借贷的价格
- 改变一个数字——利率(interest rate)——而抵押贷款、企业贷款和储蓄都随它移动。
- 引导那个利率是货币政策(monetary policy)的核心。
Monetary policy is mainly carried out by the: · 货币政策主要由以下执行:
The central bank sets interest rates and influences the money supply. · 中央银行设定利率并影响货币供应。
Monetary policy is mainly used to keep inflation near a target. · 货币政策主要被用来保持通货膨胀接近一个目标。
Price stability is its primary goal. · 价格稳定是它的主要目标。
The interest rate set by the central bank is called the ______ rate. · 中央银行设定的利率被称为______利率。
The base rate guides all other interest rates. · 基准利率引导所有其他利率。
Who runs it
- The central bank 中央银行 sets the base interest rate and influences the money supply 货币供给.
- It uses these to hit the government's inflation target 通胀目标.
The central bank runs monetary policy — it sets the interest rate to manage demand, inflation and growth
谁运行它
- 中央银行(central bank)设定基准利率(base interest rate)并影响货币供应(money supply)。
- 它用这些来达到政府的通货膨胀目标。
中央银行运行货币政策——它设定利率来管理需求、通货膨胀和增长
Monetary policy shifts AD · 货币政策移动总需求
Lower interest rates encourage borrowing and spending, shifting aggregate demand right. · 更低的利率鼓励借贷和花费,使总需求右移。
Lower interest rates tend to: · 更低的利率倾向于:
Cheaper borrowing raises spending and investment. · 更便宜的借贷提高花费和投资。
Lower rates
- Cut interest rates → borrowing is cheaper, saving less rewarding.
- Spending and investment 投资 rise → demand, output and jobs grow (but inflation may rise).
更低的利率
- 削减利率 → 借贷更便宜,储蓄回报更少。
- 花费和投资上升 → 需求、产出和工作增长(但通货膨胀可能上升)。
To reduce inflation, a central bank would usually: · 为了减少通货膨胀,一个中央银行通常会:
Higher rates cool demand and slow price rises. · 更高的利率给需求降温并减缓价格上涨。
Higher rates
- Raise interest rates → borrowing is dearer, saving more attractive.
- Spending and investment fall → demand cools and inflation slows (but growth may slow too).
Worked example. With inflation above target, the central bank raises the base rate. Mortgage and loan repayments rise, households spend less, and price rises ease — at the cost of slower growth.
更高的利率
- 提高利率 → 借贷更贵,储蓄更有吸引力。
- 花费和投资下降 → 需求降温,通货膨胀减缓(但增长也可能减缓)。
例题。 在通货膨胀高于目标时,中央银行提高基准利率。抵押贷款和贷款还款上升,家庭花费更少,价格上涨缓和——以更慢的增长为代价。
You've got it
- monetary policy = the central bank setting interest rates / money supply
- lower rates boost borrowing and demand; higher rates cool them
- it is mainly used to control inflation
你掌握了
- 货币政策 = 中央银行设定利率 / 货币供应
- 更低的利率提振借贷和需求;更高的利率给它们降温
- 它主要被用来控制通货膨胀