论我国货币政策从“适度宽松”到“稳健”的回归  

Discussion on a Regression from Moderately Easy to Steady Monetary Policy in China

作　　者：孙森[1] 张京[1] 

机构地区：[1]天津财经大学经济学院,天津300222

出　　处：《现代财经（天津财经大学学报）》2011年第4期43-48,共6页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

摘　　要：2008年金融危机爆发后,中国人民银行采取了包括降低利率和法定存款准备金率在内的适度宽松的货币政策。适度宽松货币政策的实施给我国宏观经济运行带来了重要影响,它既为市场提供了充足的流动性,促进了经济的回暖;同时,随着通货膨胀预期加强和资产价格泡沫滋生,又为今后经济的发展埋下了隐患。这些也引起了政策制定部门的警惕,并在2010年底将今后的货币政策基调定为稳定的货币政策,这样有利于在国际大环境仍然复杂的情况下,引导货币条件从应对危机状态稳步向常态回归,在支持经济增长的同时,管理通胀预期、抑制资产价格泡沫,维护经济和社会稳定,使金融业及整个国民经济得以持续快速健康地发展。After the outbreak of financial crisis in 2008, PBC has taken moderately easy monetary policy, inclu- ding lowering interest rate and statutory reserve ratio. The implementation of easy monetary policy has an important effect on operation of macro economy. And meanwhile, with the strengthening of inflation expectation and asset price bubble, it becomes a hidden danger to future economic development. And at the end of 2010, future monetary policy is transformed to be steady, which is beneficial for guiding monetary condition from responding to danger to regular state, not only to support economic growth, but to manage inflation expectation and curb asset price bubble as well, in order to safeguard economic and social stability, and ensure the sustainable, rapid and healthy develop- ment of finance industry and the whole national economy.

关 键 词：适度宽松货币政策 稳健货币政策 信贷投放 通货膨胀 

分 类 号：F821.0[经济管理—财政学]