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利率市场化是指金融机构在货币市场经营融资的利率水平。它是由市场供求来决定,包括利率决定、利率传导、利率结构和利率管理的市场化。实际上,它就是将利率的决策权交给金融机构,由金融机构自己根据资金状况和对金融市场动向的判断来自主调节利率水平,最终形成以中央银行基准利率为基础,以货币市场利率为中介,由市场供求决定金融机构存贷款利率的市场利率体系和利率形成机制。总体来说,利率市场化有助于市场发挥其资源配置的功能。
Market-based interest rates refer to the interest rates of financial institutions operating in the money market. It is determined by market supply and demand, including the determination of interest rates, the conduction of interest rates, the structure of interest rates and the marketability of interest rate management. In fact, it is the interest rate decision-making to the financial institutions by the financial institutions themselves based on financial conditions and judgments on the financial market to adjust the interest rate level autonomously, and ultimately the formation of the central bank benchmark interest rates as the basis, the money market interest rates for the Intermediary, the market supply and demand determined by the market supply and demand of financial institutions deposit interest rates market interest rate system and interest rate formation mechanism. In general, the marketization of interest rates helps the market play its function of resource allocation.