市场起决定作用下的利率调控模式:国际比较与借鉴

Interest Rates Model under the Market Decision Role:International Comparison and Reference

市场起决定作用下的利率调控模式是一种"决定在市场、调控在中央"的利率政策操作方式,目前流行于发达国家的利率走廊调控与利率平滑调控都属于此种模式。短期内,我国利率调控的背景无法达到完全的市场条件,但发挥市场决定性作用已经成为未来的政策前提。鉴于此,探讨和分析国外市场起决定作用下的利率调控模式,并借鉴其中有利于我国利率调控模式改革的实践经验,就颇具有研究的理论价值与现实意义。

Interest rates model under the market decision role is a kind of ＂decision in the market, regulation in the government ＂ interest rate policy operation, Currently interest rate corridor regulation and interest rate smoothing control popular in the developed countries belong to this model . In the short term , The back- ground of our country interest rates cannot achieve full market conditions , but market plays a decisive role which has become the future policy premise. In view of this , discussion and analysis of the foreign interest rates model under the market decision role, and the practical experience of reform in interest rates, will have rather theoretical value and practical significance for china.