Trends Of International Monetary Coordination Mechanisms

International monetary coordination mechanisms are clear rules reached through consultation among governments in the monetary field, which are to stabilize the international economic and financial situation, to promote cooperation among countries, and to promote sustainable and stable development of the world economy. International monetary coordination mechanism includes global monetary coordination mechanisms, regional monetary coordination mechanisms and bilateral coordination mechanisms between two countries. It is necessary to coordinate the monetary policy because of the complexity of the international financial environment, the "spillover effect" of monetary policy and the market's dysfunction in monetary field, and so on. International monetary coordination mechanism is a platform for international monetary coordination, but the development of global, regional and bilateral monetary coordination mechanisms and functions lags behind the development of the international financial situation, and it is not adequate to the economic crisis. So it is necessary to reform and improve the current monetary coordination mechanisms, and ultimately achieve linkage among the three-level coordination mechanisms to jointly deal with economic instability and crisis.