2008年宏观经济和金融市场的复杂局面,逼出了央行前所未有的“适度宽松”货币政策今年以来,美国次贷危机突然演变成全球性金融危机,并迅速蔓延向世界实体经济,中国货币政策取向从去年的“稳健”转为“从紧”后,不得不再次改变为“适度宽松”。这种“一年三变”的情势,为中国人民银行成立并贯彻货币政策以来史 The complicated situation in macroeconomic and financial markets in 2008 drove the central bank’s unprecedented “moderate easing” of monetary policy Since the beginning of this year, the subprime mortgage crisis in the United States suddenly turned into a global financial crisis and rapidly spread to the world real economy, the Chinese currency After the policy orientation changed from last year’s “steady” to “tight”, it had to change to “moderately relaxed” again. This “three-year change” situation, for the People’s Bank of China to establish and implement the history of monetary policy since