澳大利亚的货币政策

yaleguan

澳大利亚储备银行行长格林－史帝文斯
澳大利亚的货币政策
在昨天（１１月７日）的会议中，（储备银行）管理委员会决定将现钞汇率（利率）上调２５个基本点至百分之6.25。这项决定是在全球经济持续扩张并有进一步的迹象显示通货膨胀的压力已经加大的背景下作出的。
At its meeting yesterday, the Board decided to increase the cash rate by 25 basis points, to 6.25 per cent.  The decision was taken against a background of continued expansion in the global economy and further evidence that inflationary pressures had increased.

在２００６年间世界经济增长强劲，通常预料２００７年的增长步伐将高于（近几年的）平均水平。虽然近期美国的经济增长已经放缓，世界其他地区的主流经济状况依然强劲。全球性的扩张有助于抬高矿产品价格，这将加大澳大利亚的收入及支出。
The world economy has grown strongly in 2006 and is generally expected to grow at an above-average pace in 2007. Although growth in the United States has moderated recently, strong conditions are prevailing in other parts of the world. The global expansion has contributed to high levels of commodity prices, which continue to add to incomes and spending in Australia.

委员会仔细研究了干旱可能对经济带来的影响，这将降低农产品的供应，减少农场收入，并可能在短期内影响部分食品价格。在现阶段，这些发展似乎不会对通货膨胀的中期前景有显著影响。
The Board took careful note of the likely economic effects of the drought, which will lower the supply of rural produce, reduce farm incomes and may temporarily affect prices for some foodstuffs. At this point, these developments appear unlikely to affect significantly the medium-term outlook for inflation.

同有限的剩余空间相比，日用品需求增长的幅度相对过强。劳动力市场的情况持续紧张，而商业也报得高水平运营。虽然近期有些不明确的迹象显示贷款需求可能放缓，贷款额的总体增长依旧强劲。
Domestic demand has been expanding at a relatively strong pace against a background of limited spare capacity. Labour market conditions have remained tight and businesses are reporting high levels of capacity usage. While there have been some tentative signs of moderation in the demand for credit recently, the overall pace of credit growth has remained strong.

后面不翻了，得开始工作了。
This combination of forces has contributed to an increase in inflation. In the September quarter the underlying inflation rate was around 3 per cent, up from 2½ per cent at the end of last year, and it is likely to remain around that rate in the near term. The headline CPI increase has been noticeably larger than this recently, though this reflects some temporary influences which will be reversed in the quarters ahead.  Producer price indices showed further strong increases at all stages of production in the September quarter. Aggregate wages, though not accelerating further, have continued to grow at a faster‑than‑average pace.

The Board judged this to be an environment in which the risks of inflation exceeding 2-3 per cent over the medium term remained significant. Monetary policy has been responding to these risks for some time, with increases in interest rates in May and August. Some effect of those measures is becoming evident in demand for credit by households. Nonetheless, the Board’s judgement yesterday was that a somewhat more restrictive stance of monetary policy was required in order to moderate inflation over time, and thereby to secure sustainable growth.

enjoy

好贴,谢谢楼主 [s:1]