discretionary system meaning in English

自选系统

At one extreme , one can have a totally transparent and non - discretionary system for fixing the exchange rate our currency board system is close to this model , or , at the other extreme , the exchange rate can be more or less fixed against an undisclosed basket of currencies
从一个极端的角度来说，固定汇率模式可以完全透明毫无酌情空间本港货币发行局制度与此接近，而另一极端则是参考一篮子不公开组合成分的货币，然后将汇率定在某个范围内。
The use of a non - discretionary system , of course , enhances credibility in it , but credibility also comes from being transparent in our operations so that we can be subject to market scrutiny , and from being able to explain and be accountable for our actions , when these are called for
没有空间行使酌情权的货币制度当然可提高制度的公信力，不过运作具透明度，让公众能监察我们的工作，以及在有需要时能清楚交代我们行动的原委，亦有助建立公信力。