对当前货币调控工具选配的思考

The Thinking of Monetary Adjustment Instruments Arrangement

当前货币政策工具选配面临前所未有的复杂局面,不应放弃货币供应量目标,应继续采取数量型工具和价格型工具配合使用,将信贷规模控制作为当前货币调控重要环节,积极培育市场化基准利率,加快利率市场化进程,尽快实现货币调控方式的转变。

Monetary policy has been confronted with complicated situation. Quantity adjustment has become more and more difficult. Price adjustment is lacking in necessary, conditions. The effect of exchange rate on the Balance of Payments does not appear fully. In such circumstance, cost principle should not been considered as the core of monetary adjustment instruments arrangement, we may pay more attention to the marketalization degree of instruments.