根据蒙代尔-弗莱明模型的经典论述，中国人民银行的做法本应导致它对货币供应和利率双双失控，导致通胀一泻千里。
According to the textbook version of theMundell-Fleming model, the PBOC’s approach should have caused it to lose control of the money supply and the interest rate, resulting in runaway inflation.