国债市场基准利率的形成

国债市场收益率是金融市场的基准利率.这是因为国债市场规模大,参与者多,国债品种齐全、风险小,流动性强、交易方式多,国家宏观调控政策容易切入.为了促使国债市场基准利率的形成,必须采取以下措施增大国债发行规模,完善期限品种,实行市场化发行方式,调整持有者结构,调整利率期限结构,恢复国债期货交易和完善国债回购交易,财政政策与货币政策的协调配合.

On the forming of prime interest rate in the national debt market

The yield of the national debt market is the prime interest rate of money markets. This is due to the fact that there are a more extensive scope, more attendees, more kinds of bonds, a lower level of risk, a higher fluidity, more exchanging methods, and easier adjustment and control by the government's macroscopic policies in a national debt market. In order to form the prime interest rate in the national debt market, following measures should be taken: extending the distributing scope of national debts, having a good assortment of time limit, adopting a marketable distributing method, adjusting the holders' structure, adjusting the time-limit structure of interest rate, restoring futures exchange in the national debt market, perfecting buyback exchange of national debts and making the financial policies in harmony with the money policies.