自全球金融危机爆发以来,我国一直在实施减息的宽松货币政策,此次准备金率的超预期上调,反映了经济增长的强劲,强化了市场对于政策退出的预期。虽然,政策退出表面上看会对流动性产生很大影响,不利于市场估值中枢的提升,但是,对股市却是本源的利好,政策提前退出表明 Since the outbreak of the global financial crisis, China has been implementing an easing monetary policy aimed at reducing interest rates. The unexpected increase in the reserve ratio reflects the strong economic growth and strengthens the market’s expectation of the exit of the policy. Although the withdrawal of policies on the surface will have a great impact on liquidity, is not conducive to the promotion of the market valuation center, but the stock market is the source of good, early exit policy shows