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作为货币政策的制定者,人民银行主要是通过规定和调整个人住房抵押贷款的限额、成数和利率,从而调控商品房需求和房地产价格。货币政策能否发挥应有的效应关键在于对当前市场发展态势的看法;当前就房地产市场是否“过热”以及是否存在“泡沫”在理论界和银行界争论日益激烈,其中房地产价格水平和房价收人比是争论的焦点;对于这两点的认识,将对货币政策的制定产生极大的影响。本文针对以上两点即货币政策和房价的关系进行了探讨,提出了几点发展建议。
As the makers of monetary policy, PBC regulates and controls the demand for real estate and the real estate prices mainly by stipulating and adjusting the limits, the numbers and the interest rates of individual housing mortgage loans. Whether the monetary policy can exert its due effect lies in the view of current market development trend. Whether the real estate market is “overheated” and whether there is a “bubble” is the subject of increasingly heated debates in both the theoretical and the banking circles, in which the real estate price level and the house price income The ratio of people is the focus of controversy; understanding of these two points will have a drastic effect on the formulation of monetary policy. In view of the above two points, this paper discusses the relationship between monetary policy and house price, and puts forward some suggestions for development.