论如何提高我国货币政策的有效性

How to improve the effectiveness of China's monetary policy

人民银行与银监会的分设,标志着我国金融监管与宏观调控机制调整到位,为央行独立行使货币政策奠定了基础。近20年的货币政策操作历程及实施效果表明,央行制定及把握货币政策的能力在逐步提高,调控手段日趋灵活。文章还总结了影响货币政策效用的制约因素并提出相关建议,以求进一步提高我国货币政策的有效性。

The separation of the People's Bank of China and the China Banking Regulatory Commission indicates the adjustment of China's financial surveillance and macro adjustment mechanisms is in place,which lays a solid foundation for the central bank's independent implementation of monetary policy.The monetary policy manipulation process and the results of implementation over the past two decades show that the central bank is improving its ability to formulate and grasp monetary policies,and that its adjustment mode is increasingly flexible.This paper also sums up the factors restricting further improvements to the effectiveness of China's monetary policy.