intermediate target of monetary policy

But in China, because the interest rates are non-market and the intermediate target of monetary policy is money supply, as a monetary policy tool of quantity type, the legal deposit reserve ratio is an effective tool to adjust the money supply.

而在我国，因为利率的非市场化，货币政策的中介目标是货币供给量。

First, for the part of theoretical analyses, the author analyzes the properties and functions of intermediate target of monetary policy. Later on, the author makes a comparative study of some related theories coming from Keynesian school, Monetarism school and Post-Keynesian school.

在理论分析部分，本文分析了货币政策中介目标的性质和功能，之后，比较分析凯恩斯主义学派、货币主义学派以及后凯恩斯主义学派的相关理论，各学派的相关理论都有其合理之处。

Therefore, it is not wise to give up money supply as the intermediate target of monetary policy in recent years.

因此，目前还不宜放弃货币供应量作为货币政策的中介指标。