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Angela · 2024年04月16日

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NO.PZ2018091706000056

问题如下:

The emerging market country is more likely to engage in sterilizedintervention if its:

选项:

A.

inflation rate ishigh

B.

currency isundervalued

C.

currency appreciationis caused by push factors rather than pull factors

解释:

Acountry would likely choose sterilized intervention if it had a highinflationrate, because unsterilized intervention would add to the monetary baseandpossibly increase inflationary pressures. B is incorrect because anundervalued currencyis likely to lessen the probability of intervention,sterilized or unsterilized, in response tocapital inflows. C is incorrectbecause both push and pull factors can lead to bubbleconditions, excessiveexchange rate appreciation, and the unwanted build-up ofexcessive speculativepositions.

解析:如果一个国家的通胀率很高,它很可能会选择冲销干预,因为未冲销干预会增加货币供给量,从而增加通胀压力。A正确。

B是不正确的,因为被低估的货币可能会降低干预的效用,无论是冲销的还是未冲销的干预。

C是不正确的,因为push以及pull因素都可能导致泡沫状况、汇率过度升值,以及不必要的过度投机仓位。

考察的知识点是什么?在讲义什么地方?

1 个答案

笛子_品职助教 · 2024年04月17日

嗨,从没放弃的小努力你好:


冲销干预是什么意思?课件里没看到啊

Hello,亲爱的同学!


冲销干预(sterilize intervention)是政府管理汇率的重要手段之一;是指货币当局在外汇市场上进行结汇售汇的同时,通过其它货币政策工具(如国债市场上的公开市场业务)来抵消货币当局外汇交易对货币供应量的影响,使货币供应量维持不变的外汇市场干预行为。


非冲销干预是指中央银行在干预外汇市场时不采取其他金融政策与之配合,即不改变因外汇干预而造成的货币供应量的变化。


由于考纲改版,现在二级的正文里没有这个知识点了,三级的正文里有这个知识点。

但二级的习题里既然出现了,那么同学大致了解一下含义即可,不作为重点。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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