我国利率政策的局限性分析

An Analysis of Limitation of the Interest Rate Policy in China

在中央银行进行宏观调控中,利率政策是常用的工具之一。事实证明,利率政策的效应与中央银行宏观调控的预期目标并不能完全保持一致。在不同的条件下,为什么利率政策的制定与实施会呈现出正效应与负效应呢?利率政策本身客观存在的局限性是关键因素。只有重视与加强利率政策的局限性研究,才能提高实施利率政策的有效性,才能为中央银行宏观调控预期目标的实现服务。

Interest rate policy is a common way in the Central Bank＇s national macro - regulation. It has been proved that the effects of interest rate policy do not completely conform to the anticipated target of macro - regulation. Why are positive and negative effects caused by policy making and implementation under different circumstances？ The key factor lies in the limitation of interest rate policy itself. Only when the study of the limitation of interest rate policy is emphasized, can the policy on interest rate be more effective and offer better help to reach the target of the national macro - regulation of Central Bank.