中文摘要：

在外汇占款增速出现阶段性放缓的背景下,我国陆续推出了常备借贷便利、中期借贷便利和抵押补充贷款三种货币政策创新工具。创新工具的运用增强了基础货币的供给能力,提高了货币政策调控的针对性和灵活性,对于减小市场利率波动和降低流动性风险产生了积极作用。在我国积极推进利率市场化改革的进程中,要合理运用货币政策创新工具保持流动性中性适度,同时加快货币政策创新工具从数量型工具向价格型工具的转变,促进市场利率走廊机制的形成。

英文摘要：

In the context of the growth of funds outstanding for foreign exchanges experiencing a phased slowdown,China has one by one brought out three innovative monetary policy tools,including standing lending facility,medium-term lending facility and pledged supplementary lending.The application of these innovative tools has reinforced the supply capacity of monetary base,improved the pertinence and flexibility of the monetary policy regulation,and is playing an active role in reducing the volatility of the market interest rate and liquidity risks.In the process of China＇s interest rate marketization,the innovative tools should be more properly used to keep a neutral and moderate liquidity.Meanwhile,the transformation of innovative monetary tools from quantitative tools to pricing tools need to be quickened,so as to promote the formation of market interest rate corridor mechanism.