Fiat currencies derive their authority from the government or monetary authorities.

法定货币的权威来自政府或货币当局。

The two sides discussed how to respect the autonomy of each other's monetary authorities in determining the monetary policy.

“双方讨论了如何尊重对方的货币当局，在决定货币政策自主权方面的讨论。

The monetary authorities will in effect slash five zeros from Venezuela's ailing bolivar currency in an effort to stem hyperinflation. Here's Katy Watson.

委内瑞拉金融当局表示将会在原本疲软的货币玻利瓦尔后面抹掉5个‘零’，以此阻止恶性通货膨胀。以下是凯蒂·华生的报道。

Corresponding to the quantity of money created by the monetary authority, there will, therefore, be cet.

因此，对应于货币当局创造的货币数量， 将有 cet。

In this event the monetary authority would have lost effective control over the rate of interest.

在这种情况下， 货币当局将失去对利率的有效控制。

But if by the policy of the monetary authority we mean the terms on which it will increase or decrease the quantity of money, i.e.

但是，如果我们所说的货币当局的政策是指它将增加或减少货币数量的条件，即。

Indeed, owing to the unwillingness of most monetary authorities to deal boldly in debts of long term, there has not been much opportunity for a test.

事实上，由于大多数货币当局不愿大胆处理长期债务，因此没有太多机会进行测试。

But in applying this theory in any particular case allowance must be made for the special characteristics of the method actually employed by the monetary authority.

但在任何特定情况下应用这一理论时，必须考虑到货币当局实际采用的方法的特殊性。

And that, along with tightening by the monetary authorities, by the Federal Reserve — that is one of the reasons that people see recession coming down the pike.

而且，再加上货币当局和美联储的紧缩政策，这也是人们看到经济衰退即将来临的原因之一。

There is also the more important qualification which arises out of the monetary authority not being, as a rule, an equally willing dealer in debts of all maturities.

还有一个更重要的条件，即货币当局通常不是所有到期债务的同等意愿交易者。

(1) There are those limitations which arise out of the monetary authority's own practices in limiting its willingness to deal to debts of a particular type.

(1) 货币当局在限制其处理特定类型债务的意愿方面的做法会产生一些限制。

If the monetary authority deals only in short-term debts, we have to consider what influence the price, actual and prospective, of short-term debts exercises on debts of longer maturity.

如果货币当局只处理短期债务，我们必须考虑短期债务的实际和预期价格对期限较长的债务的影响。

If Ricardo had been content to present his argument solely as applying to any given quantity of money created by the monetary authority, it would still have been correct on the assumption of flexible money-wages.

如果李嘉图满足于仅仅将他的论点应用于货币当局创造的任何给定数量的货币，那么在弹性货币工资的假设下，它仍然是正确的。

But at a level above the rate which corresponds to full employment, the long-term market-rate of interest will depend, not only on the current policy of the monetary authority, but also on market expectations concerning its future policy.

但在高于充分就业率的水平上，长期市场利率将不仅取决于货币当局的当前政策，还取决于市场对其未来政策的预期。

Assuming flexible money-wages, the quantity of money as such is, indeed, nugatory in the long period; but the terms on which the monetary authority will change the quantity of money enters as a real determinant into the economic scheme.

假设货币工资是灵活的，货币数量本身在长期内确实是零的；但是货币当局改变货币数量的条件作为真正的决定因素进入了经济计划。

A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target.

53 central bank 中央银行。

Our reason for supposing that there is such a special connection arises from the fact that, broadly speaking, the banking system and the monetary authority are dealers in money and debts and not in assets or consumables.

我们假设存在这种特殊联系的原因是，从广义上讲，银行系统和货币当局是货币和债务的交易商，而不是资产或消耗品的交易商。