Empirical Analysis on the Transparency of Monetary Policy to the Efficiency of Monetary Policy

In the frame of monetary policy,the transparency,which is named asymmetrical information,is an important aspect about the disclosed degree between monetary policy maker and other economic subjects.It could optimize the transfer of the correlation information of monetary policy,reduce the uncerntaity in the economical activities,overcome the dynamic inconsistent difficulty of the Central Bank,enhance the market efficiency,and then enhances the validity of the monetary policy through the reasonable transparency.Through the analysis we find that the transparency of monetary policy has the influence to enhance the efficiency of monetary policy.The result indicates that if we enhance the transparency of monetary policy,the fluctuation of inflation rat will be greatly reduced,and the economics will steadily high grow,so it confirmes the relations between the transparency of monetary policy and the efficiency of monetary policy.