摘要
上期作者论述了中国公开市场操作的传导机制,回顾了中央银行实现各个阶段货币政策目标的过程。本期作者又从理论和实践出发,分析了作为公开市场操作目标的基础货币和利率之间的关系,并对操作中如何选择和平衡进行了探讨。
The first part of this paper in the last issue analyzes the transmission mechanism of China's open market operation and describes how the central bank achieves its monetary policy objectives at various stages. The second part, based on theories and pratices, analyzes the relationship between interest rate and base money, which are the objectives of open market operations. Choosing and keeping balance between these two objectives during operation is also discussed.
出处
《中国货币市场》
2003年第4期30-33,共4页
China Money
