Then the article analyses the important action of the inter - bank bond rate . the conclusion is the open market operations affects the bond market through rate 然后通过分析银行间债券市场利率的重要意义及债券传导机制,得出公开市场业务通过利率对债券市场进行影响的结论。
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 公开市场业务在我国还是新兴的货币政策工具，随着体制转轨的继续推进和市场化程度的加强，公开市场业务将会越来越成熟。
Besides the traditional monetary fulfillment policies such as discount policies , preparatory deposit system , and open market operations , frs also regulates money supply using interest rate more and more in recent years 美联储除用贴现政策、存款准备金、公开市场业务这些传统的执行货币政策工具外，近几年来还越来越多地使用利率来调节货币供应量。
The focus of attention is put to its necessity and feasibility . the third part is the central part of this thesis . it mainly deals with the development and current situation of china ' s open market operation 第二部分着重讨论我国开展公开市场业务的现实条件，从必要性和可行性两方面论证了在当前的经济发展形势之下，完善扩大公开市场业务的意义。
In recent years , central bank launches open market operations on a large scale , handles up the basic currency on a large scale , and regulates the money supply and scale of commercial bank credit 近几年,央行大规模开展公开市场业务,大规模吞吐基础货币,调节货币供应量和商业银行信用规模,公开市场业务操作已成为央行日常货币政策操作的主要政策工具。
From 1998 to 2001 , our country has been expanding the distribution of national debt and using open market operation to influence monetary supply . as a result , our economy has been developed steadily 为此，从1998年起，我国开始实施了以扩大国债发行为主要手段的积极财政政策及以公开市场业务为主要工具的稳健货币政策，对经济进行反周期的宏观调控。
Money su ly in the united states is managed mainly by the federal reserve board through its bank reserve requirements , the discount rate it charges to banks for money , as well as its open market operatio conducted through the i uance of securities 美国的货币供给主要由联邦储备局进行管理，包括银行准备金，通过贴现率收费以及通过发行证券公开市场业务。
Money supply in the united states is managed mainly by the federal reserve board through its bank reserve requirements , the discount rate it charges to banks for money , as well as its open market operations conducted through the issuance of securities 美国的货币供给主要由联邦储备局进行管理，包括银行准备金，通过贴现率收费以及通过发行证券公开市场业务。
It is proposed that in order to improve the independence and flexibility of monetary policy , china should reform present exchange control system , enhance the open market operation and facilitate the equilibrium of the balance of payments 我国应改革现行的外汇管理制度，加大公开市场业务操作力度，促进国际收支结构平衡，以提高货币政策实施的自主性和灵活性。
The tools at its disposal include modifying benchmark interest rates ( such as the fed funds target and the discount rate in the us ) , conducting money market operations ( which influence short - term interest rates ) , and changing banks ' reserve requirements 可用的手段包括调整基准刊率（如美国的美联储基金目标利率和贴现率） ，指导公开市场业务操作（货币市场的运作可影响短期利率） ，修改银行的准备金要求。
