我国货币政策在防治通货紧缩中的局限与改善

The Limitations and Improvements of Chinese Monetary Policy under Deflation

通货紧缩是近几年影响我国经济的主要问题 ,我国采用稳健的货币政策对付通货紧缩。但是由于我国选择货币供应量为货币政策的中介目标 ,在通过货币供应量影响投资和消费的过程中 ,货币政策传导机制不畅通 ,影响了货币政策效用的发挥。因此 ,必须寻求有效的途径 ,加快利率市场化进程 ,改革货币政策中介目标 ,完善货币政策传导机制 ,以防范和治理通货紧缩。

Emerging deflation is a main problem influencing Chinese economy in recent years. China uses modest monetary policy to govern it. Considering the limits on the selection of medi-target and monetary policy transmission system, the policy is hard to affect the economy. So we should seek for effective ways to govern the emerging deflation, such as accelerating interest market building, changing medi-target and improving transmission system.