经济发展与改革中的利率市场化

Interest Rate Liberalization in the Process of Economic Development and Reform

利率市场化的实质是由市场取代货币当局成为利率定价的主体。从国际比较、对经济金融的促进作用、经济结构和利率市场化改革的关系等方面来看,中国的利率市场化改革仍是非常成功的。今后应以建立健全由市场供求决定的利率形成机制为总体方向,以完善市场利率体系和利率传导机制为重点,以提高中央银行宏观调控能力为基础,加快推进利率市场化改革进程。

The essence of interest rate liberalization is to let market replace the monetary authority as the main body of interest rate pricing.Interest rate liberalization in China is very successful in terms of promoting economic development and gauged by international experience.The overall direction isto establish a market-oriented interest rate formation mechanism.The key issue is to improve market interest rate system and interest rate transmission mechanism.To conclude,we need to facilitate the interest rate liberalization process on the basis of improving the macrocontrol capability of the central bank.