With the PBOC unable to sterilize the inflows, upward pressure on the renminbi s exchange rate would threaten competitiveness.

There have been rumors spread among these communities that the program is a plot to sterilize Muslim children.

But the most recent RRR increases serve mainly to sterilize the passive money supply caused by the increase in foreign exchange reserves.

Emerging market countries are turning to an array of techniques to discourage capital inflows or sterilize their effect on the exchange rate.

Instead, the PBC s policy is preemptive sterilize over liquidity and get the money supply under control in order to prevent inflation or over heating.

And emerging market growth returned to pre crisis levels and appears to be sustainable, helped by unorthodox policies designed to sterilize massive capital inflows.

Wine was still being used to sterilize water as late as the Hamburg cholera epidemic of 1892 in order to control the spread of the disease.

This argument evokes the 1960s controversy over alleged efforts by the U.S. Peace Corp to sterilize indigenous women, which resulted in the Peace Corps expulsion from Bolivia.

And, if the exit occurs via a rise in the interest rate on excess reserves (to sterilize the effect of a base money overhang on credit growth), the ensuing losses for central banks balance sheets could be significant.