Validity Analysis On China's Monetary Policy Instruments

In theTheory of the Capital.Marx has explained his scientific opinion to the monetary question on the basis of the labour value theory , has formed his own monetary theoretical system , analyzed the money circulation deeply on the supply of the currency and demand law , and has made scientific analysis on the mechanism of the monetary supply and the characteristic ,etc.At the same time, Marx's Capital Contains the extremely abundant monetary ideas such as media trade, promote production, dispose the resource , control economy , the first motive force and lasting motive force.and monetary policy function of Central Bank etc.ln a word.it is important directive significance for us to study the instruments validity of monetary policy today.The Central Bank makes a start in the operation to the monetary policy instruments to the performance of the monetary policy function. Validity of the monetary policy instruments means the operation to the monetary policy instruments of Central Bank ,in order to influence the economic variable of financial intermediary or market economy subject behavior, and reduce the economic fluctuation , curb inflation , realize full employment, promote the economic growth through the activity of the economic subject ,thus structure a healthy and harmonious economic society.The monetary policy instruments of our country mainly includes reservation fund system.open market operation, rediscount, interest rate ,etc.