我国货币市场基金的发展现状及其对货币供应量的影响

近两年来，资金利率保持较高水平，货币基金产品和渠道创新推进较快，货币市场基金快速发展将导致金融脱媒深化，对货币供应量的稳定性和其作为货币政策目标的有效性带来挑战，并影响我国央行货币政策调控目标的实现。本文介绍了货币基金产品的主要类型和业务模式，分析了我国货币市场基金的发展现状，从理论和实证两个方面对货币市场基金对货币供应量的影响进行了分析。

The Development Status of Money Market Funds in China and Its Impact on Money Supply

In the past two years, fund interest rate has kept a high level, and products and innovation channels of monetary fund have developed faster. The rapid development of money market funds will lead to deepening financial disintermediation, which brings the challenge to the stability of the money supply and the effectiveness as the goal of monetary policies, and affects the realization of the monetary policy regulation and control goals of China＇ s central bank. The paper introduces the main types and business model of monetary fund products, analyzes the development status of the money market funds in China, and also analyzes the impact of money market funds on the money supply from two aspects of theory and practice.