Therefore , the mechanism of stock market transmitting monetary policy can be divided into two close links : from monetary policy to the stock market ; from the stock market to the real economy 因而可以将货币政策的股票市场传导机制分为两个紧密联系与互动的环节:货币政策对股票市场的影响;股票市场波动对实体经济的影响。
Moreover , those kinds of capital didn ’ t go to the real economy but high - risk sectors such as banking and real estate which finally caused the financial crisis or even twin crisis in these countries 这些短期资本流入后,由于国内缺乏有效的监管体制,并没有流向实际经济部门,而是大部分都投向了银行、证券或房地产部门,造成了经济泡沫。
In other words , mr mishkin suggests the fed should cut interest rates before a deflating housing bubble affects the real economy , even though it resisted acting before an inflating bubble created dangerous economic distortions 换句话说，米什金先生建议联储在膨胀型泡沫给经济制造危险的混乱以前按兵不动，但应该在收缩型房市泡沫影响到实体经济以前降息。
Enterprise is a main part of the real economy weather it make full use of the direct financial way may reflect obviously the development degree of fictitious economy , which is of vital importance to the real economy 而作为实体经济运行主体的企业，它在直接融资市场上的融资效果直接体现了虚拟经济的发展程度，这关系到是否与实体经济协调发展，并为社会各方面带来良性效应。
Monetary policy is generally transmitted from financial sector , financial markets through interest rate , credit and asset price channels , affecting investment , consumer , import and export , at last the real economy 一般来说，货币政策可以通过利率、信贷、资产价格等渠道，经过金融部门、金融市场，作用于投资、消费和进出口三个变量，进而影响实体经济，发挥其调节宏观经济的功能。
But there is the possibility that at some point the extent of interest rate hike needed to preempt inflation and the associated fears for its consequences for the real economy are such as to scare investors away from us financial markets 收紧货币政策固然可以令美元支撑下去，但先发制人地以加息来遏抑通胀，加上人们担心这样对实质经济造成的打击，都可能会把美国金融市场的投资者吓掉。
From j . m . keynes to j . e . stiglitz , many economists has pointed out that as a variable that bridges the financial market and the real economy , interest rate affects investment and savings thus the whole economy both domestically and internationally 伴之而来的是市场利率大幅波动,商业银行的产品定价面临巨大挑战,利率风险急剧上升,大批金融机构由于市场利率波动造成的巨大损失而倒闭破产。
Along with the development of the social economy , the supply and the demand of merchandise separated from each other , both temporally and dimensionally . and the currency , separating from the real economy , motioned dependently beyond the common merchandise exchanges 随着社会经济的发展，商品的供给和需求在时间和空间上相互脱离，货币也开始从实物经济中脱离出来，在一般商品交易之外独立地运动。
Thus it accelerates the fictitious economic development , which will realize coordinated growth both the fictitious economy and the real economy and produce positive effect to social aspects , such as social wealth , enterprise development and resident investment 企业直接融资的完善使虚拟经济充分发展，使其实现与实体经济的协调运行，并给社会财富的增长、企业实体的成长和广大公众的投资产生良性效应。
Meanwhile , it has talked a cautious game : no firm promise that any interest rate will be cut , but the odd hint that all the options are open in monetary policy , especially when it comes to protecting the real economy from the turbulence on the markets 同时，它还玩起了捉迷藏：不明确承诺将削减利率，但又奇怪地表示使用所用货币政策工具施行的可能性都存在，尤其是当动荡的金融市场要影响到美国实体经济的时候。
