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?