摘要
在欧洲央行整个货币政策体系中,货币市场基准利率处于核心地位。自欧元区建立以来,由于扫除了汇率障碍,整个欧洲市场利率价格已变得高度透明,产生了以EURIBOR为代表的多个货币市场基准利率。该文从多个角度,对货币政策操作与欧元区货币市场基准利率的应用做了介绍,并认为货币政策操作应与基准利率的市场化运作紧密相连,在此基础上,相关金融市场才能真正得以发展。
The benchmark interest rate of the money market plays a key role in the whole monetary policy system of the European Central Bank （ECB）. As the establishment of the Euro Zone swept away the obstacles of different FX rates, interest rates in the European markets are now highly transparent and multiple market-oriented benchmark interest rates have appeared such as EURIBOR. With the introduction of monetary policy operations and the application of benchmark interest rates in the Euro Zone money market, this paper concludes that monetary policy operations should be closely related to the market-oriented operations of benchmark rates and, based on that, relevant financial markets can truly obtain development.
出处
《中国货币市场》
2007年第9期46-49,共4页
China Money
关键词
欧洲央行基准利率
市场化基准利率
应用
ECB benchmark interest rate, market-orientedbenchmark interest rate, application
