货币市场流动性与货币政策手段的改进

Money market liquidity and monetary policy instruments improvement

各种迹象表明,货币市场承积了过多的流动性,但上调存款准备金率并非唯一有效的选择,也缺乏足够的实体经济依据。面对外汇占款过多的问题,央行要调控货币供应量,应及时改进调控方式和货币政策手段。

There are indications that raising the deposit reserve ratio, which lacks sufficient real economic background, will not by itself adequately deal with excess liquidity in the money market. Regarding the excessive RMB position of foreign exchange, in order to adjust the money supply, the central bank should make timely improvements to adjustment methods and monetary policy instruments.