crawling peg

简明释义

小幅度调整汇率

英英释义

例句

1.The country adopted a crawling peg system to manage its currency fluctuations more effectively.

该国采用了爬行盯住汇率制度，以更有效地管理其货币波动。

2.Investors are closely watching the changes in the crawling peg rate as it impacts their portfolios.

投资者密切关注爬行盯住汇率的变化，因为这会影响他们的投资组合。

3.Under a crawling peg, the currency is adjusted periodically based on inflation rates.

在爬行盯住汇率下，货币会根据通货膨胀率定期调整。

4.The government announced that it would implement a crawling peg to combat rising import costs.

政府宣布将实施爬行盯住汇率以应对不断上涨的进口成本。

5.Many economists believe that a crawling peg can help stabilize an economy in transition.

许多经济学家认为，爬行盯住汇率可以帮助稳定过渡中的经济。

作文

In the world of economics, currency exchange rates play a crucial role in determining the financial health of a country. One of the mechanisms used to manage these rates is known as a crawling peg. A crawling peg is a type of exchange rate regime where a country's currency value is adjusted periodically, typically in small increments, to align with economic fundamentals or to stabilize the economy. This approach allows for more flexibility compared to a fixed exchange rate system, while still providing some level of predictability for businesses and investors.The concept of a crawling peg can be particularly beneficial for countries experiencing significant inflation or economic volatility. By allowing the currency to adjust gradually, governments can avoid the shock of abrupt changes that might occur in a floating exchange rate system. For example, if a country faces rising inflation, its currency may need to depreciate to maintain competitiveness in international markets. A crawling peg allows this depreciation to happen over time, reducing the potential negative impacts on the economy.Countries like Argentina and China have utilized the crawling peg system to manage their currencies. In Argentina, the government implemented a crawling peg during the late 1980s and early 1990s to combat hyperinflation. By adjusting the currency value regularly, they aimed to stabilize prices and restore confidence among consumers and investors. Similarly, China has adopted a crawling peg for its yuan, allowing it to gradually appreciate against the US dollar while maintaining control over its exchange rate.However, the crawling peg system is not without its challenges. One major concern is that it can lead to a lack of transparency and create uncertainty in the market. If businesses and investors are unsure about future adjustments to the currency value, they may be hesitant to engage in trade or investment activities. Additionally, frequent adjustments may require continuous monitoring and intervention by the government, which can strain resources and lead to potential mismanagement.Moreover, the effectiveness of a crawling peg largely depends on the credibility of the government and its monetary policy. If the public loses faith in the government's ability to manage the currency effectively, it could lead to capital flight and further economic instability. Therefore, it is essential for governments employing a crawling peg to maintain transparency and communicate clearly with the public and investors about their policies and objectives.In conclusion, the crawling peg is an important tool in the arsenal of monetary policy, offering a middle ground between fixed and floating exchange rate systems. While it provides a way to manage currency values flexibly and gradually, it also comes with risks that must be carefully managed. Understanding the implications of a crawling peg is vital for economists, policymakers, and investors alike, as it can significantly impact economic stability and growth. As countries continue to navigate the complexities of global finance, the crawling peg will likely remain a relevant topic in discussions about currency management and economic policy.

在经济学的世界中，货币汇率在决定一个国家的金融健康方面发挥着至关重要的作用。其中一种用于管理这些汇率的机制被称为爬行钉住。爬行钉住是一种汇率制度，其中国家的货币价值定期调整，通常是小幅度的增量，以与经济基本面保持一致或稳定经济。这种方法相比固定汇率制度提供了更大的灵活性，同时也为企业和投资者提供了一定程度的可预测性。爬行钉住的概念对于经历显著通货膨胀或经济波动的国家尤其有利。通过允许货币逐步调整，政府可以避免浮动汇率制度下可能出现的突发变化带来的冲击。例如，如果一个国家面临通货膨胀上升，其货币可能需要贬值以维持在国际市场上的竞争力。爬行钉住允许这种贬值随着时间的推移发生，从而减少对经济的潜在负面影响。阿根廷和中国等国已经利用爬行钉住制度来管理其货币。在20世纪80年代末和90年代初，阿根廷政府实施了爬行钉住以应对恶性通货膨胀。通过定期调整货币价值，他们旨在稳定物价并恢复消费者和投资者的信心。同样，中国也对其人民币采用了爬行钉住，允许其逐步升值以对抗美元，同时保持对其汇率的控制。然而，爬行钉住制度并非没有挑战。一个主要的担忧是，它可能导致缺乏透明度，并在市场中造成不确定性。如果企业和投资者对未来的货币价值调整感到不确定，他们可能会对贸易或投资活动感到犹豫。此外，频繁的调整可能需要政府持续监测和干预，这可能会加重资源压力并导致潜在的管理不善。此外，爬行钉住的有效性在很大程度上取决于政府及其货币政策的可信度。如果公众失去对政府有效管理货币能力的信心，可能会导致资本外流和进一步的经济不稳定。因此，采用爬行钉住的政府必须保持透明度，并与公众和投资者清晰沟通其政策和目标。总之，爬行钉住是货币政策工具箱中的一个重要工具，提供了固定和浮动汇率制度之间的折衷方案。虽然它提供了一种灵活和逐步管理货币价值的方法，但它也伴随着必须谨慎管理的风险。理解爬行钉住的含义对于经济学家、政策制定者和投资者来说至关重要，因为它可能对经济稳定和增长产生重大影响。随着各国继续应对全球金融的复杂性，爬行钉住将可能在有关货币管理和经济政策的讨论中保持相关性。