摘要
由于外部环境的制约 ,当前我国中央银行货币政策操作仍存在诸多难点 ,表现在中央银行调控基础货币的手段受到较多制约 ,货币政策操作在商业银行内部的传导过程受阻 ,货币政策对非银行公众的作用有限 ,与此同时 ,货币政策还面临着从调控数量到调控信心的转变。要充分发挥货币政策的作用 ,需要加快银行间债券市场建设 ,继续拓展完善银行间债券市场 ,作为批发债券市场。组织商业银行建立债券托管体系 ,开展柜台债券交易 ,发展面对企业和个人投资者的零售债券市场 ,最终形成统一、有序的债券市场体系。
Currently,with the limitation in outer environment,China Central Bank is confronted with many difficulties in monetary policy operation,which manifests at:a lot limitations on the measures to be taken by central bank on basic money control,hindrance in the transmit of monetary policy operation inside commercial banks.limited function on non bank public to be exerted by monetary oplicy,simultaneously,the monetary policy is in face of a transfer from quantity control to confidence control.To allow a full play of the monetary policy,it is requisite to realize the:Speedy establishment of inter bank bond market,continuous opening up and perfection of inter bank bond market as wholesale bond market,establishment of bond trusteeship system with and organization of commercial banks,deployment of counter bond exchange,establishment of retail bond market opening to enterprises and private investors,formation of a consolidated,orderly bond market system in the end.
出处
《金融研究》
CSSCI
北大核心
2000年第9期76-83,共8页
Journal of Financial Research
关键词
银行间债券市场
货币政策
债券托管体系
做市商
Inter-bank Bond Market,Monetary Policy,bond trusteeship system,Counter Bond Exchange,Market Maker
