| 单词 | intra-marginal intervention |
| 释义 | intra-marginal intervention also intra-marginal intervention in foreign exchange markets Intervention in the foreign exchange market by the central bank or other monetary authorities before an exchange rate has reached the limit to which it is desired to restrict fluctuations. This is contrasted with intervention when the rate reaches its limit, to prevent it from moving any further. Central banks may choose intra-marginal intervention because they are de facto pursuing a policy of keeping the exchange rate within a narrower band than that to which they are committed by agreement. They may also wish to intervene before the rate reaches its limits because of a fear that sudden movements in the market rate, even within the permitted band, will influence speculative opinion about further movements. In such a case a small intervention within the limits may help to prevent the start of a major swing in market opinion, which if unchecked would require intervention on a much larger scale when the limit was reached. |
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