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公开市场业务是中央银行在公开市场上买卖有价证券以吞吐基础货币,实现货币政策目标的活动。公开市场业务最早起源于19世纪的英国,当时英格兰银行为了平衡国库收支,开始应用公开市场操作,但其作为真正意义上的货币政策工具是在20世纪20年代以后。与其他货币政策工具相比,作为总量调节的间接货币政策工具,公开市场业务具有主动、灵活、快捷和作用范围广的特点。中央银行可以充分控制操作规模,可以经常、连续地进行操作,对
Open market operations are the activities of the Central Bank in buying and selling securities in the open market to handle the base currency and achieve the objectives of monetary policy. Open-market business originated in the 19th century, when the Bank of England began to apply open market operations in order to balance its treasuries, but as a true monetary policy instrument after the 1920s. Compared with other monetary policy tools, as an indirect monetary policy tool of aggregate adjustment, the open market business has the characteristics of being proactive, flexible, quick and broad in scope. The central bank can fully control the scale of operations and can operate frequently and continuously