财务资产的组合
the euro should constitute an important reserve currency and play a key role in portfolios of financial assets on an international scale.
欧元应该成为重要的储备币种,并在国际金融资产组合中起关键作用。
If, instead, the demand for central bank money reflects a change in the composition of financial market participants' portfolios, towards less-risky assets, the increase in central bank money is not inflationary. It contributes instead to preventing deflation.
相反,如果对央行资金的需求反映出金融市场参与者的投资组合中风险较低的资产增多,那么,央行资金增加就不具有通胀效应,反而有助于防止通缩。
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