一、引言近三十年,中国经济发展经历了计划经济体制到市场体制的稳步转型,市场经济机制提高了资源的供需配置效率,宏观经济调控政策为市场经济的高效运行提供了有力保证,其中利率作为货币政策的重要组成部分,在国家对宏观经济调控中起到了不可或缺的作用。近几年,中国人民银行加强了对利率工具的运用,利率浮动变化频繁,并且随着利率 I. INTRODUCTION In the recent three decades, China’s economic development has undergone a steady transformation from a planned economic system to a market system. Market economic mechanisms have increased the efficiency of the supply and demand of resources. Macroeconomic control policies have provided a powerful guarantee for the efficient operation of market economy. Among them, As an important part of monetary policy, interest rates have played an indispensable role in macroeconomic regulation and control. In recent years, the People’s Bank of China has stepped up the use of interest rate instruments, frequent fluctuations in interest rates, and with interest rates