浅议当前国内货币政策调控

Discussion on Current Monetary Policy Regulation

近年来,我国货币政策调控逐渐由数量型向价格型过渡已取得阶段性进展和突破。尽管利率市场化不断向前推进,价格型调控工具不断丰富,利率走廊机制不断健全和完善,国内价格型调控依然受到多重因素的影响导致利率粘性现象突出,价格传导机制不畅。本文通过对当前货币政策调控中制约利率传导的主要因素进行分析,并提出未来货币政策调控进一步完善的相关建议。

In recent years,China’s monetary policy regulation gradually from quantitative to price-based transition has made progress and breakthroughs.In spite of the continuous progress of interest rate liberalization,the enrichment of price-based regulation tools,and improvement of the interest rate corridor mechanism,domestic price-based regulation is still affected by multiple factors,resulting in prominent interest rate stickiness and poor price transmission mechanism.This paper analyzes the main factors restricting the interest rate transmission in current monetary policy regulation and puts forward some suggestions for further improvement of the monetary policy regulation in the future.