我国货币政策利率传导不畅的成因及对策分析

利率是市场经济体制中货币政策的主要传导渠道,也是西方发达国家日益倚重的货币政策中介目标。在解释我国货币政策利率传导机制不畅的原因的同时,提出加快利率市场化步伐、加快金融市场的建设和发展、加强广大社会公众对市场价格信号的合理、反应塑造市场化的微观经济主体等完善我国货币政策利率传导机制的对策,以最终提高货币政策实施的效果。

No Smooth Conduction of Interest Rate in Domestic Monetary Policy: an Analysis of Causes and Countermeasures

Interest rate is the main conduction channel of monetary policy in market economy,and it is also the intermediary agent of monetary policy on which Western developed countries rely heavily.However,the conduction of interest rate in domestic monetary policy does not go smoothly.This paper probes into the causes and supplies some countermeasures to perfect the conducting mechanism,including the speedup of putting interest rate into market,accelerating the construction and development of financial market,strengthening the public's rational reaction to market price signals,and establishing on-the-market microscopic economic subjects.In this case,the enforcement of domestic monetary police can be upgraded in the end.