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。

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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。

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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。

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