analysis of the tight monetary policy impact on chinas international balance of payments（从紧的货币政策的分析,对中国国际收支的影响）.doc

Analysis of the tight monetary policy impact on China’s international balance of payments Paper Network: [Abstract] In recent years, with the further development of our national economy, the economy there have been many unstable factors, on the current situation in perspective internal devaluation of the RMB’s external appreciation, is expected to continue rising domestic prices do not rise, the rapid economic growth driven primarily dependent on exports, consumption and foreign investment contributed to economic growth rate is significantly lower, thus more likely the central bank tightening monetary policy. This paper analyzes the current account surplus and capital finance accounts dual background, this tightening of monetary policy on the negative impact of China’s international balance of payments, and make recommendations for the rationalization and countermeasures to deal with this unfavorable situation. In this paper, the establishment of In recent times the central bank to raise interest rates on the basis of a continuous, two accounts from the analysis of China’s exchange rate regime and international capital into China’s regulatory recommendations. [Keywords] double surplus to expand domestic demand tightening regulation First, the economic background analysis The second half of the year, the central bank raise the benchmark one-year deposit and lending rates, which is the first time in three years since the central bank to raise interest rates, monetary policy also indicates that the trend may be toward tightening. Ever higher inflation pressures and adjust the inflation level for the central bank monetary policy has led to some pressure, then the introduction of interest rate policy, a significant goal is to manage inflation expectations from the statistical data, the current internal and external appreciation of China’s currency devaluation, the domestic prices, while continuous appreciation of the renminbi outside, inflation expectation