An Analysis of Monetary Policy System Based on the Evolution of Monetary Policy Transmission Mechanism

With the development of economy,monetary policy plays the leading role in social economy through the transmission of several channels,such as monetary market,capital market,and foreign exchange market.Based on the evolution of monetary policy transmission mechanism,the paper aims to introduce how the transmission mechanism of different monetary policies influences the construction of monetary policy system and the development of the real economy;besides,the influences of financial innovation on the transmission mechanism and the system construction of monetary policy are analyzed.The conclusion is that the nature of financial innovation is to increase the new optional assets of the asset portfolio of economic subject,and create more complex monetary policy transmission channel.We should understand all these with dynamic time-space outlook.