Due to insuperable defection as a intermediate target, monetary targeting have shown obvious weakness in its controllability, data availability and relativity with real economy.

我国现行货币供应量指标的可控性、可测性以及与国民经济的相关性均已出现了明显问题。

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Such dismal news appears to vindicate critics who say that the Bank of England's Monetary Policy Committee (MPC) has forsaken its job of meeting the inflation target.

上述消息令人堪忧，似乎恰好证实了一些评论员的观点。他们称央行的货币政策委员会简直是将保证通胀目标的职责弃之不顾。

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The current issue is that the monetary aggregate (M4) measure of lending to the private sector is at its lowest level in a decade, while inflation is more than double the BOE's target.

目前的问题是，衡量私人贷款的指标——货币总量(M4)正在十年以来的最低点，而通胀指数高出英格兰银行所预期的两倍。

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In practice, therefore, the Bundesbank does not actually pursue a pure monetary target.

ECONOMIST: Remember monetarism? It may be coming back into fashion

It is considering two options: a monetary target or an inflation target.

ECONOMIST: Remember monetarism? It may be coming back into fashion

Establishing such credibility will prove hard if it sets a monetary target and then is promptly forced by unforeseen events to overshoot it.

ECONOMIST: Remember monetarism? It may be coming back into fashion