| 单词 | sterilization |
| 释义 | sterilization The process of offsetting the inflationary-deflationary effects that result when a government intervenes in foreign-exchange markets. If a nation's currency is depreciating and its government wishes to intervene to stabilize the exchange rate, it can sell its reserves of foreign currency and buy its own currency. However, buying its own currency will take money out of circulation, which could cause interest rates to rise, followed by recession. Sterilization is the process of expanding the money supply in these circumstances to prevent increases in interest rates and any consequent recession. Conversely, if a government intervenes to prevent a currency from appreciating, sterilization would involve reducing the money supply. |
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