Shibor与利率市场化  

Shibor and interest rate marketization

作　　者：郭建伟[1] 

机构地区：[1]中国人民银行货币政策司利率处

出　　处：《中国货币市场》2007年第7期4-11,共8页China Money

摘　　要：文章回顾了我国利率市场化改革的进程,指出Shibor处于市场最基准的地位,直接关系到利率市场化。从目前运行情况看,Shibor已可以作为货币市场流动性的有效衡量指标,其与货币市场产品的比价关系逐渐显现。下一步,我们要以Shibor为核心推进利率市场化,并在培育基准利率的同时,探索建立中央银行货币政策调控的目标利率和利率调控框架。This paper reviews the reform process of interest rate marketization in China, and points out the implications of the Shibor as the most basic reference in the market, which is directly related to interest rate marketization. In light of its present operations, the Shibor has become a valid indicator for the liquidity of the money market, and its parity relation with the products of the money market has been more and more apparent. For the next step, we should promote the marketization of interest rates with Shibor at the core, nurture reference rates of interest, and establish the target interest rate of monetary policy and a framework of interest rate adjustment.

关 键 词：SHIBOR 利率市场化 目标利率 利率调控框架 

分 类 号：F822[经济管理—财政学]