The third option is sterilized intervention. This prevents monetary and credit growth, but, by keeping interest-rate differentials high, sterilized intervention feeds carry-trade inflows, thus contributing to the problem that it was supposed to solve.
第三种办法是冲销式干预。这一措施不会导致货币量和信贷增长，但它会维持相对于低利率国家的高利率差，从而加剧与套息交易（carry trade）相关的资本流入，结果是抱薪救火。