Open Market Operations, The Macro-control

The open market operation of macro-economy policyIn macro-economy management. demand management policy is important. It including fiscal policy and monetary policy .Monetary policy is performed by the central bank using reserve requirement and rediscount and open market operation. Generally speaking, there is a tendency that government are paying more attentions to marking tools especially the open market operation than administration methods. In a sense, this tendency depends on the formation of the global marketing system.The Federal Reserve System performed the open market operation successfully. It is attributed to the huge demand of government debt over the world. The open market operation is central bank adjusts bank system reserve requirement through taking part in buying and selling the government debt certificates in the security market at its desirable price, bring a new equilibrium to the demand and supply of money. Such activity depends on the government debt scale and constitution.In china, the open market operation scale is limited, to present, it is not a kind of main monetary policy. The open market operation is a new-born monetary policy tool in our country, which will be depend on more and more mature monetary market, transfomation of mechinism and enforcement of marketlism. Itself will be more and more mature as the ongoing.