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我国的货币政策主要是管理总需求,一般情况下,总需求过度会导致物价上涨,同时资产价格也会上涨,其中也包括房价、股票和其他资产的价格。但是往往经济也可能是不同步的,很多国家都曾出现过这种现象,有时候物价低迷,资产价格上涨;有时候资产价格低迷,物价上涨。不同类别的资产价格上涨方向也是不一样的。因此在这种情况下,货币政策更主要的是应对总需求,主要是根据像CPI这样的消费物价指数以及生产资料价格指数来调整货币政策。
China’s monetary policy is mainly to manage aggregate demand. In general, excessive aggregate demand leads to price increases and asset prices also rise, including prices of houses, stocks and other assets. But often the economy may or may not be synchronized. This phenomenon has occurred in many countries. Sometimes the prices are sluggish and the prices of assets rise. Sometimes the asset prices are sluggish and prices rise. Different types of asset prices are not the same direction. Therefore, in this case, monetary policy is more important to meet the total demand, mainly based on the consumer price index such as CPI and the means of production price index to adjust monetary policy.