结构性货币政策工具对地方法人金融机构利率引导作用研究——以郴州市为例

The research on the Interest Rate Guidance of the Structural Monetary Policy Tools to Local Corporate Financial Institutions

2018年以来,人民银行加大对结构性货币政策工具的使用,其作用效果也引起各方高度关注。本文关注央行货币政策工具传导末梢,以湖南省郴州市地方法人金融机构为研究对象,将结构性货币政策工具分为直接与间接作用于地方法人金融机构两大类,分析结构性货币政策工具利率引导作用,找出存在阻塞因素,对提升结构性货币政策工具效力有现实意义。

Since 2018,the People’s Bank of China has increased the use of structural monetary policy tools,and the effects of these tools have attracted great attention.This paper focuses on the transmission end of the People’s Bank of China’s monetary policy tools.Taking local corporate financial institutions in Chenzhou city of Hunan province as an example,dividing structural monetary policy tools into directly and indirectly tools acting on local corporate financial institutions,this paper analyzes the interest rate guidance mechanism of structural monetary policy tools and finds out the blocking factors,which is of practical significance for improving the effectiveness of structural monetary policy tools.