When a central bank allows the purchase or sale of domestic currency to have an effect on the monetary base and hence on the mon

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问题 When a central bank allows the purchase or sale of domestic currency to have an effect on the monetary base and hence on the money supply, the intervention is said to be a/an______foreign exchange intervention.

选项 A、limited
B、unlimited
C、sterilized
D、unsterilized

答案D

解析 答案为D项。unsterilized foreign exchange intervention“改变现有货币政策的外汇市场干预”,是指央行直接在外汇市场进行操作,而听任国内货币供应量和利率朝有利于干预目标的方向变化。这种干预通常非常有效,一般是在央行看到本国货币的汇率长期偏离均衡价格时才愿意采用的。与之相对的是不改变现有货币政策的外汇市场干预(sterilized foreign exchange intervention)。本题中之意:央行的干预使货币基础进而货币供应量发生变化,显然是指改变现有货币政策的外汇市场干预,故选D项。
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