In the forth part , i analyse the change of monetary intermediary target in developed country and the problem of operating policy in our country . then i argue that we should revise the intermediary target including gradually giving up the monetary quantity supplied and shifting into the control of inflation . we also should t settle a series of problems such as the independence and credibility of the people ' s bank of . china , the target in the operation of monetary policy , the range of inflation 第四部分通過分析發(fā)達國家貨幣政策中介目標的變化和我國當前貨幣政策在操作過程中遇到的問題,提出應對我國貨幣政策中介目標進行重新界定,主張逐步放棄貨幣供應量目標而轉向建立一個通貨膨脹目標下的貨幣政策框架,并在這一過程當中分別解決人民銀行的獨立性與可信性、貨幣政策操作的框架目標、可行的通貨膨脹目標等一系列問題。