On the Choice of Current Currency Policy from the Transmission System of China′s Currency Policy

From the introduction of the tools of currency policy,the papers analyses the transmission system of the currency policy and probes into the reasons for the unsatisfactory adjustment result of the not-so-smooth transmission system of China's currency policy,and offers the following suggestions;keep a short term tightness,through a more specific adjustment means to restore the economic performance to bring currency policy to its normal status.In the long run,a proper medium objective of the currency policy should be inaugurated to adjust the policy in an indirect way.