Judging from the balance sheet of central bank, gold market operation also plays a role in the expansion or contraction of money supply.

从中央银行资产负债表分析，买卖黄金也是扩大或收缩国内货币供应的手段。

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The foreign-exchange reserves, then, represent no more than the asset side of a balance sheet, against which the central bank holds liabilities.

因此，外汇储备不过是兑成了外币的央行负债而已。

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However, market onlookers are changing the shape of what they expect the Fed to deliver and rather than expanding their balance sheet, investors are sensing that the central bank might rejig the composition of its holdings in an effort to deliver borrowers with more attractive financing options.

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The privately owned gold held in Turkish commercial banks has shown up on the balance sheet for the central bank, resulting in news reports of inflated official-sector reserves in the country, the consultancy said.

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Nor will our central bank seek once again to dramatically increase the size of its balance sheet.

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