In many cases of past rebalancing, an undervalued exchange rate also led to excessive growth in money supply, making it harder to tame inflation.

在很多调整平衡的情况下，低估的汇率还会导致货币供应过度增长，增加平抑通货膨胀的难度。

youdao

In normal circumstances, powerful economic forces work against an increasingly undervalued real exchange rate.

在正常情况下，强大的经济力量会纠正日趋低估的实际汇率。

youdao

The exchange rate remains substantially undervalued, but we have seen some important progress there to date.

WHITEHOUSE: Via Telephone

In many cases of past rebalancing, an undervalued exchange rate also led to excessive growth in money supply, making it harder to tame inflation.

ECONOMIST: Economics focus

Authorities have been using monetary policy instruments to cool inflation rather than adjust an exchange rate which many consider to be undervalued.

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