Research Of The Statutory Benchmark Rate Control Power For People's Bank Of China

At present, China's economic development is at an important period, market economy progress gropingly. Over the past two years, our economy has a significant development, while 2008, the macro-control gradually complexity for domestic economic situation, it is not only curb overheated investment but also suppress inflation, and necessary to prevent the credit crunch caused by Bank's nonperforming assets increased. So no matter what the point of view, monetary policy will face additional challenges in this year. Everything has two sides, only grasp the developmentry law of things can it play an active role. This paper will research the benchmark interest rate control power from an economic law perspective. China's benchmark interest rate is one of central bank's monetary policy tools, taking one with another, it's the one of the macro-control. Macro-control power is the new areas of economic law, at present, there is short of specific research about macro-control power and its affiliated powers.First of all, we analyze benchmark rate control power's source by juristic economic analysis. State macro-control is a comprehensive control behavior, it takes three major means like plan, monetary and finance in our country, so we believe that the macro-control power is a comprehensive power. Secondly, we research its attribute, value and principle by a comparison of external and internal method. The paper considers that the macro-control power was composed of the plan control power, monetary control power and finance control power. The benchmark interest rate control power belongs to financial macro-control power, which one of the macro-control power. It shows an obvious attribute of economic law. Benchmark interest rate control is neither the economic act nor the administrative legal act, and it is the economic management act that the nation implemented as an organization of economic management. Last, we analyze the operation status and improve the operation system by empirical study. Analyses prove that the independence of the subject needs to be strengthened, and the process of the control needs to be further improved. However, we hope a legal regulate system that control this power will establish, to enable the power to safeguard social increment interests better, and has a vital role to play in safeguarding our national economic security. Theories stem from practice, it should serve practice, but my research has been very limited, we hope we can contribute for research of macro-control power. In a word, to strengthen"People's Bank of China Law"and promote the sound development of the socialist market economy system, the research of benchmark interest rate control power in people's bank has significant meaning.