German to English Bus/Financial Finance (general) coinage, numismatics

This comes from an economics article about the history of the Austro-Hungarian empire's currency and the transistion to a fully convertible currency (one backed by gold). The article was written in 1908, and is being translated along with all of Ludwig von Mises' work by Hillsdale College, where there is a von Mises chair of economics.

The Austro-Hungarian Bank was never actually obligated by law to redeem bank notes for gold currency; however, it did so voluntarily, and thus achieved for the Dual Monarchy the same type of currency stability that was usually only achieved by countries with fully convertible currencies (France, Britain, Germany). This section of the article is aimed at those who question whether the Bank's voluntary redemption is equivalent to obligatory redemption, and whether the Bank could indeed have refused to redeem bank notes for gold.

Because of the lack of obligatory redemption:
Er ermögliche es der Bank, jederzeit die Abgabe von Gold zu verweigern und auf diese Weise in Zeiten steigenden Zinsfußes auf dem internationalen Geldmarkte ihren Barbestand und damit die Währung auch ohne stärkeres Anziehen der **Diskontschraube** zu schützen.

So far I have:
It enables the Bank at any time to refuse to export gold and, in this manner, to protect its cash holdings and thereby the currency during periods of increasing interest rates on the interenational currency markets without actuating the ??discount spiral??.

I have found discount screw and discount spiral: neither seem particularly current in English (and Diskontschraube may be dated in German). I understand that the Bank is attempting to influence the international markets without either increasing the official interest rate, or causing others to increase their interest rates. Is there a term for this?

mtia/vDiV