我国利率改革的终极目标——市场化

The Ultimate Goal of the Interest Rate Reform in Our Country——Market Mechanism

利率市场化作为我国利率改革的终极目标 ,是伴随着我国市场取向改革的不断推进而逐步深化的。实现资金利率市场化 ,不仅能够比较灵敏地反应货币供给与市场需求的关系 ,起着价格信号的作用 ,而且能够不断地调节货币供给与市场需求 ,起着经济杠杆的作用。在目前物价持续走低、资金供大于求、资源相对过剩、银行风险意识增强的环境下 ,放开利率不大容易导致通货膨胀 ,是推行利率市场化的较好时机 ,并已进入我国金融改革的实施阶段。

Market mechanism of interest rate is the ultimate goal of the interest rate reform in our country, and it deepens step by step in harmony with the gradual advancement of the market-oriented reform in our country. The attainment of a market mechanism in the interest rate of funds can not only flexibly reflect the relationship between money supply and market demand, thus acting as a signal of pricing, it can also adjust money supply to market demand as an economic lever. At present, commodity prices remain low, money supply surpasses demand, resources are relatively in surplus, and banks intensify their risk management. Under such circumstances, a loosening of interest rate control will unlikely lead to inflation. Here comes a good opportunity to achieve market mechanism of interest rate, and this interest rate reform has already been a part of the financial reform in our country.