术语“固定汇率”的详细信息

英译术语:

peg

汉语语境:

在汇率的稳定和调节机制上，当前汇率制度类似于“可调整的盯住汇率制”，我国汇率制度因此具有固定汇率制的特征，但不具备固定汇率制的汇率稳定机制——稳定的汇率预期。现行汇率制度构成对汇率政策的严重制约，调节国际收支不得不倚重于直接管制政策的运用；货币政策丧失了独立性，加剧宏观经济的波动。这种低效率表明，我国当前汇率制度及其微观市场安排急待改革。

英语语境:

As for the stability and adjustment mechanism of exchange rate, the current exchange rate system is similar to the "adjustable-peg" system. Therefore, the exchange rate system of China has the characteristics of a peg system, but it does not have the exchange rate stabilizing mechanism——stable exchange rate expectations embodied in the peg system. The current exchange rate system severely restricts the exchange rate policy, and the balance of payment adjustment has to rely on the use of direct control policy. The monetary policy loses its independence and aggravates the fluctuation of the macro-economy. This inefficiency shows that China's current exchange rate system and its micro-market arrangements are in urgent need of reform.