摘要
浮动汇率制下,外汇干预仍是各国政府稳定汇率的重要工具。与非冲销性干预相比,冲销性干预对汇率的影响尽管存有较大的局限性,但有着重要的影响,尤其是在干预目标与经济基本面或者与国内政策目标一致,央行有较大的干预能力,干预信誉较高的情况下。
Under a floating exchange rate regime,FX intervention remains an important tool for governments to stabilize their exchange rate.Compared with non-sterilized intervention,sterilized intervention has a relatively limited but more significant impact on the exchange rate,especially when the intervention objective is consistent with the economic fundamentals or the underlying macropolicy stance and the central bank has effective intervention capabilities and high reputation.
出处
《中国货币市场》
2004年第12期26-29,共4页
China Money
