The physical operation is complicated, the issues involved are subtle, and the use or abuse of open market operations is hotly disputed.

实际操作非常复杂，所涉及的问题也非常难以捉摸，而且，对开放市场操作的使用或滥用也一直存在激烈的争议。

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The paper holds that the open market operation by the central bank of China has been in conformity with its basic requirements, but coordination with public financial policy is still to be improved.

本文认为，我国央行的公开市场业务操作是符合其基本任务要求的，但在与财政政策的协调方面还有待于改进。

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The central bank adjusts the banking system's level of reserve fund, controls the issuance of currency and influences currency supply and economic operation through open market operation.

它是通过改变银行体系的准备金总量而控制基础货币投放、以调节微观经济主体头寸余缺而影响整个社会货币供应量的。

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At this stage, when the bank makes a loan, the money supply rises by more than the amount of the open-market operation.

FORBES: How Has The Fed Evolved?

The monetary expansion following an open-market operation involves adjustments by banks and the public. (To find out more, see Formulating Monetary Policy.) The bank in which the original check from the Fed is deposited now has a reserve ratio that may be too high.

FORBES: How Has The Fed Evolved?