货币调控政策（Monetary control policy）.docVIP

货币调控政策（Monetary control policy） Currency regulation should change from quantity type to price type Chinas monetary policy has shifted from easing to stabilizing for half a year. The reserve ratio has now risen to an all-time high of 20.5%, with little room for further improvement. The next step should be to consider more about interest rates. Because the low interest rate policy is harmful for a long time. In view of the excessive deceleration of the economy, symmetrical and asymmetric interest rate increases are desirable. Chinas monetary policy has shifted from easing to stabilizing for half a year. Six months ago, the central bank contraction liquidity initiatives frequently launched. The deposit reserve ratio has been raised seven times, and the deposit reserve ratio has reached a high of 20.5%. Since December 26th last year, deposit and loan benchmark interest rate from down to rise, inflection point, three interest rates have been raised so far. The introduction of these monetary control measures are closely related to the economic movement. At present, the prominent is that the consumer price index (CPI) upward, inflation expectations increased, the actual negative interest rates expanded. The government stressed that inflation control is still the top priority of the current macro policy, and monetary policy needs to maintain the necessary efforts. It is foreseeable that the central bank still has further tightening measures, and the determination to strengthen liquidity management will not waver. The reserve requirement rate instrument is easy to use, but not unlimited The central banks macroeconomic regulation and control of monetary policy, its tools are generally divided into two types of quantity and price. There are many differences between raising the deposit reserve ratio and raising interest rates, and there are many differences. In general, both can reduce liquidity by converging the money multiplier effect, thereby preventing inflation and inhibit