Application Of The Wavelet Analysis In The Fault Diagnosis Of Rotating Machines

Starting from July 2005, the RMB exchange rate reform has been impelled continually, RMB begins a gradual appreciation progress, which becomes the main trend of RMB exchange rate fluctuations currently. Under such a background and coupled with the effects of the global financial crisis, some comprehensive problems arise in china's economic operation: the uneven development of the economy; the inflation rate is at a high level; the employment situation is severe and so on. Faced with these problems, the central government adopts positive macro-control policies and takes monetary policy to regulate economical operation frequently, but the effect and intensity of the monetary policy has been insufficient, moreover, time lag effects of the monetary policy are also in question.Recently, with the increasing pressure of RMB appreciation, the contradictions between China's monetary policy and exchange rate policy become more and more serious in recent years. Making the monetary policy and exchange rate policy coordinate with each other is the basis for national economy to develop healthily. China's current monetary policy is adjusting and developing according to the changes of economic and financial environment. Since the outset of the reform and opening up in 1978, the economic growth of China is remarkable, the value of RMB keeps stable in general. However, faced with the exchange rate system reform and the increasing pressure of RMB appreciation, we must not only coordinate the monetary and exchange rate policies well, but also take corresponding currency policy under different situations. This article analyses the present situation of our monetary policy and exposes some relevant issues from a theoretical and empirical perspective. By analysing the affecting factor of RMB appreciation and the effect of the choice of the intermediate target of monetary policy on the effectiveness of monetary policy, we hope to find how to conduct monetary policy under the pressure of RMB appreciation.After the correlation analysis, this dissertation comes to several conclusions as fllows:1.RMB appreciation is inevitable, China must adhere to the gradual appreciation road; 2. the primary objective of our monetary policy is to maintain the price level stable; 3. What china should do is to implement tight monetary policy; 4. It is sensible for china to choose appropriate intermediate target for monetary policy, money supply is no longer suitable to be our long-term intermediate goal.