A Study On The Effectiveness Of Monetary Policy In The Post-financial Crisis Era

September2008, the global financial crisis broke out by the United States sub-loan crisis.During the periods, countries have adopted a series of measures to reduce the economic shocksor come out of the financial crisis as soon as possible. The adjustment of monetary policy hasbecome one of the main measures.China has taken a moderately easy monetary policyresponse to the international financial crisis. With recoverying of economic and rising ininflation. China’s monetary policy has been adjusted from" moderately easy" to" Steady ".How to evaluate the effectives of China’s monetary policy, this article has a preliminary studyon these issues.At first, the article discusses the monetary policy theory in the economics textbooks.Including the tools, transmission mechanism and so on. Then,introduces the differencesbetween the tools and transmission mechanism contacted with China’s actual situation. Finally,presents the implementation of China’s monetary policy, combining with the growth rate ofGDP、CPI and the Exchange to evaluated the effectiveness of the “moderately easy”and the“Steady”monetary policy.This article argues that the moderately easy monetary policy is effective in responding tothe international financial crisis, and has a positive effect on economic development. Duringthe post-financial crisis, the economic has been developed steady, with the inflation rising andthe pressure of RMB appreciation increasing, Tthe steady monetary policy is implemented base on these environments. As themonetary policy has itself limitations with the complex economic situation, the effect ofmonetary policy is not very remarkable. This article analyzed the influences of theeffectiveness of monetary policy and gives the related policy suggestion and the measureaccording to the above.