Monetary Policy Intermediate Target Selection

Intermediate aims are the meeting and transmission point of central bank monetary police, which generate influencing about magnificent economy under market economy. Choose and revise intermediate aims are one of pivotal steps in monetary police. Magnificent economy in china flank lacking inside requires, so central bank keeps taking loose measure. But the increase speed continuous gliding, disinflation lasting more than two years and magnificent economy cannot walk out low valley. Every one knows central bank controls magnificent economy by formulates and carries out monetary police, and intermediate aims are the pivotal variable from formulates monetary police to actualize finally target. Central bank may effectively compare the action and result of monetary police by using intermediate aims. So the choice of intermediate aims was the important things in the result of monetary police. We necessary to research the choice of intermediate aims in china, in order to enhance the validity monetary police to keep the development of economy. In this thesis we will analyze the choice of intermediate aims in four aspects, and present the suggestion of the choice of intermediary aims. At first chapter the theory of intermediate aims that the guidance of the thesis analyze definition and characteristic of intermediary aims. Chapter two generally introduces undergo of intermediate aims choice in the West Countries. In contrast with the choice in the West Countries, the third chapter intermediate aims choice in china survey the progress circumstance, and educe the shortage in china. From above all the thesis suggest select interest rates as the intermediate aims in china, and explain the necessary, maneuverability and premiss requirements of adopt rate as intermediary aims.