The Influence To Chinese Conducting Mechanism Of Monetary Policy By The Money Market, The Capital Market And Their Interaction

The money market and the capital markets are the two important constitutions of financial market, they conduct the mechanism to have the important influence to the our country monetary policy. Among them, the money market provides to the operative tools and places for the monetary policy of the National Central Bank, supplying to the Among them, the money market provides to operate the tool and places for the monetary policy of the National Central Bank, containing the important influence of the currency quantity, is the place of formating the basis interest rate.The capital market same holds the currency supplying quantity tools to the monetary policy and contains the important influence of the middle target. And it is the place to monetary policy that will save the end conversion as investments and affects the end target( the stable price of commodity) very greatly. Actually, because funds having speciality of benefiting, two markets affect mutually in the funds and interest rates essentially. In this article I think that the mechanism of interaction is a income of property-choice behavior by the microeconomic corpus . At the same time,the conduction process of monetary policy also is a income of property-choice behavior by the microeconomic corpus acting for to the monetary policy signal. Therefore, the two interaction of market and the conducting mechanism of monetary policy have the inside consistency, namely the interactive conditions of two markets inevitablely...