关于我国利率政策效应的探究

1996年至2002年，中国人民银行先后八次降低存款利率。根据利率政策原理，利率上调，存款增加；利率下调，存款减少。但结果却是利率的连续降低并未对居民储蓄有多大影响，我国居民储蓄仍在稳定地增长。制度政策、实际报酬、货币流通、投资渠道、消费信贷、年龄结构、传统习惯等因素，是造成我国利率下调反而储蓄上升的主要原因。

Discuss on Policy Effect of Our Country's Rate of Interest

From 1996 to 2002,Bank of China had reduced the rate of interest eight times.According to the rate policy principle,the rate raise and down as well as the deposit.But the result shows the reduce of rate of interest didn't have enough influence on people's deposit,and the deposit still raise.The main cause are practical reward;money flow;invest channel;cost credit;age structure;traditional hobby and so on.