惩罚利率

当然，些许的惩罚利率不可能解决道德风险问题，但它可以彰显央行面对这个问题时的严肃性。

Of course , a small penalty rate would not have solved the moral hazard problem ; but it would have signalled the seriousness of the central bank in facing up to it .

通过控制货币政策，央行能够确保如此行事的政府受到高利率的惩罚：高利率将抑制经济过热。

The central bank , by controlling the monetary tap , could make sure that a government behaving in this way was punished by high interest rates that would inhibit the boom .