intermediate target

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。

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。

Whether or not the money supply and the assets price should also become the intermediate target of the monetary policy?

是否应将货币供应量和资产价格也作为货币政策的中介目标；

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。

The intermediate target is an intermediate variable in the transmission process of monetary policy, which can be observed and controlled, serving for the ultimate target.

货币政策中介目标是在货币政策传导过程中设置的可供观测和控制的中间变量，服务于政策最终目标。

But the analysis on interest rate, exchange rate and inflation rate indicates that they can not replace money supply as the intermediate target in the following several years.

但通过利率、汇率和通货膨胀率这几个备选目标的分析，发现目前还没有合适的对象来取代货币供应量。

Secondly, a relative intermediate target is an important indicator of effective monetary policy.

相关的中介目标是货币政策效果的重要指示器。

The prevalent inflation targeting system is a money policy frame in which intermediate target is mainly interest rate, with detracting traditional intermediate targeting functions into many variables.

当前流行的通货膨胀目标制事实上是将传统中介目标功能分离、分散于多个变量，而又以利率为主要中间调节目标的货币政策框架。