just as monetary discipline was the answer nearly 30 years ago, i suspect it is the only way out today.
我怀疑,正如货币纪律是近30年前的答案一样,它也是今天摆脱困境的唯一出路。
we have combined monetary discipline with fiscal disciplines which people know we will keep; interest rates have averaged 6 per cent.
英国人民知道,我们将把货币制度和财政制度合二为一的做法继续下去。平均利率为6%。
but while a stiff dose of monetary discipline may be a short-term fix for overheating, the challenge in the long run will be removing the obstacles to a faster growth rate.
但是,当货币理论的猛药也许会短期修正过热现象,同时长期的挑战将会搬走更快成长率的障碍。
we have combined monetary discipline with fiscal disciplines which people know we will keep;
英国人民知道,我们将把货币制度和财政制度合二为一的做法继续下去。
but it has the advantage of identifying the parameters of a restoration of monetary discipline – something that has been sorely missing over the past 15 years.
但它拥有确定重建货币纪律所需的参数的优势——过去15年,货币纪律已严重缺失。
second, a fixed exchange rate regime imposes monetary discipline on countries, thereby curtailing price inflation.