Monetary siyasa: manufofin, ma'anar da Concepts

Jihar tattalin arzikin da aka girma sun fi mayar saboda da aiwatar da kasa ta kudi hukumomi na monetary siyasa. Mene ne ta ainihi? Wanne daga cikin hanyoyin su ne mafi yawan na kowa?

Mene ne jigon monetary siyasa?

Kalmar "monetary manufofin" ne yawanci dauke a cikin mahallin na Central Bank of jihar ko wasu tsarin da cewa ya yi aikin ayyuka da suka dace da Babban Bankin. A musamman, kamar:

- tsari na aiki da batutuwa na kudi tsarin, da bashi kasuwar;

- lasisi daga bankunan.

- management na kumbura.

- aiwatar da manufofin kudi.

- sauƙaƙe da gudanar da kasafin kudin babban birnin jihar.

In ba haka ba da sunan ra'ayi - "monetary manufofin." Ayyukan na Central Bank da kuma irin wannan cibiyoyin, wanda sun kai wani manufa. Ka yi la'akari da abin da suka kasance ba.

Harkar Kuɗi Policy Manufofi

Key manufofin monetary siyasa, a general, dace da ayyuka na Central Bank of Rasha Federation, game da abin da muka ce a sama. Muna magana ne game da irin wannan dalilai kamar:

- dakile wuce kima kumbura.

- tabbatar da zaman kariya na 'yan kasa.

- Management of capitalization na key sassa na tattalin arzikin.

- tabbatar da mafi kyau duka ma'auni na biya na kasa da tattalin arziki.

Wadannan raga kafa wa kansu The bankunan tsakiya na mafi yawan kasashe, ciki har da bankin na Rasha. Zai zama da amfani a yi la'akari da asali hanyoyin da rarrabuwa na cikin ayyukan da kudi hukumomi a matsayin kasar monetary siyasa. Its a raga a lokaci guda zai iya zama xaya - kamar yadda aka tattauna jerin sunayenka.

Kusanta ne a wurin da rarrabuwa na monetary siyasa

Masana sun gano biyu main iri monetary siyasa:

- ra'ayin mazan jiya.

- m.

A farko da irin manufofin kudi da nufin aiwatar da matakan da tsara aikin kudi cibiyoyin - zaman kansu da kuma jama'a, da kuma nufi na rage muhimmancin bashi ayyukan. Saboda haka, Central Bank iya, ta hanyar kafa wani babban nasa tarihin sha'awa kudi, ta da wani irin karuwa a bashi yanayi da zaman kansa kudi cibiyoyin.

A wannan yanayin, cimma takamaiman manufofin monetary manufofin. Kamar, sama da dukan, akan rage hauhawar farashin kaya, kazalika da samar da wani tabbatacce balance saboda tsaye ba ruri na rage shigo da. An fito da irin manufofin kudi ma yakan haifar da karuwa a cikin haraji nauyi a harkokin kasuwanci, da rage kasafin kudin ciyarwarsu, ingantawa da shigo da canzawa.

Sako-sako da manufofin kudi ta da ci gaban da bashi kasuwar, a rage na iko a kan wurare dabam dabam na babban birnin kasar a cikin tattalin arzikin, haraji, da kuma sha'awa a kan basussuka. Babban Bankin saukar da key sha'awa kudi, iya gabatar da aiwatar da irin wannan ayyuka da bankunan.

Dace monetary manufofin biyã, kamar yadda mai mulkin, da wadannan:

- wani karuwa a cikin tattalin arzikin ta capitalization,

- haramta motsa tattalin arziki aiki ,

- ingantawa ma'auni na biya - amma ta kara fitar da kaya.

Abin da kayyade zabi na Jihar wani musamman iri-iri na monetary siyasa? Ta yaya da manyan al'amurra na manufofin kudi na babban bankin?

Kamar yadda mai mulkin, shi ya dogara da yanzu matakin na zaman lafiya na jihar na kudi tsarin, kazalika da muhimmancin da tattalin arzikin matsayin dukan. Idan na kasa tattalin arzikin da suka shafi bunkasa, ga Central Bank iya zama m to zabi wani m dabarun: shi yawanci taimaka don kunna zuba jari, ta da tattalin arziki aiki a cikin yanayi na unoccupied kasuwar segments.

Idan tattalin arziki da rikicin akwai, da manufofin da manufofin kudi na jiha ne batun sauya. A wannan yanayin, yana iya zama dole don rage hauhawar farashin kaya. Kamar yadda muka gani a sama, da nasara ta wannan burin taimaka wa wani ra'ayin mazan jiya monetary siyasa. Its manufa ne kamar haka sun fi mayar da gani da tattalin arziki da halin da ake ciki a jihar. Idan na kasa tattalin arzikin da aka tasowa da kuzari - monetary manufofin za a iya halin da wasu fasaloli, a rikicin trends - a cikin wasu.

Wani kowa rarrabẽwa ga rarrabuwa na monetary siyasa - sikelin. Saboda haka, ware kawo wannan nacewar da zabe hanyoyin na tattalin arziki tsari. Bari mu bincika su musamman daki-daki.

Sikelin da manufofin kudi

Da farko, shi ne ya kamata a lura da cewa duka biyu da irin manufofin kudi karatu sama, ra'ayin mazan jiya da kuma masu sassaucin ra'ayi, na iya zama kamar yadda a total da zabe. Bambanci tsakanin wadannan jinsuna ta halarci ga manajan kudi tsarin da aka qaddara, don haka da cewa har na iko na yanke shawara cewa an dauka da Central Bank.

Saboda haka, idan Babban Bankin aiwatar da manufofin kudi na duk-fita, to, sai umarni shafi dukan bashi da kudi cibiyoyin cewa aiki a jihar. Manufofi da kuma hanyoyin da manufofin kudi na iya zama a cikin wannan hali dangantaka da bukatar ta da ci gaban da key sassa na tattalin arziki, da zamanintar da aikin banki kayayyakin more rayuwa na jihar.

Zababben manufofin kudi cibiyoyin da shawara da baza na iko na yanke shawara riƙi da Central Bank, wata iyaka yawan bashi da kuma kudi cibiyoyin. Saboda haka, Central Bank, ta hanyar aiwatar zabe manufofin iya:

- iyãkõkin a ƙauyuka.

- domin sanin lamuntawa nagartacce.

- kafa mutum cika sharudda na kasuwanci kudi cibiyoyin.

A wannan yanayin da manufar iya zama don inganta CB takamaiman abubuwa bashi jihar tsarin, biyan bashin ababen more rayuwa da inganta kyautata matsayin bisa ga abin da runduna wani iri-iri na biya ma'amaloli.

A yi, a raga da kuma manufofin da manufofin kudi na jiha, watau, Babban Bankin ko daidai cibiyoyin, sau da yawa canza. Wannan shi ne saboda da m canje-canje a cikin tattalin arziki matakai a cikin kasar da kuma kasashen waje, tare da rinjayar zamantakewa da siyasa dalilai, fasaha ci gaba. Saboda haka, Central Bank iya kai a kai unsa duk zabi iri monetary siyasa - wanda, a cikin daban-daban haduwa da oda.

Hakika, a wasu isasshe tsawon lokaci jihar iya zabar da fifiko tattalin arziki management hanyoyi da ƙasa da zafin madadin amfani da su. Amma tare da wani gagarumin canji a cikin external yanayi, da tasiri na siyasa dalilai CBA iya sake duba nasu tsarin kula da aiwatar da manufofin kudi.

Amfani za a yanzu la'akari da takamaiman kida da wadda Babban Bankin iko da tattalin arziki da matakai a kasar.

Instruments na manufofin kudi na jihar,

Modern tattalin arziki bambanta da wadannan jerin asali kida a tambaya:

- kafa dokoki a kan reserves na bankuna.

- CBR halarci ma'amaloli a kan stock mu'amala.

- kafa na key kudi.

- tsari na ayyukan kasuwanci na rance cibiyoyin.

Bari mu yi nazarin su daki-daki.

Reserve bukatun ga bankunan

A farko kayan aiki a cikin jerin, tattauna a sama, da aka gani a matsayin daya daga cikin key, domin shi damar da babban bankin ya yi tasiri a kan wadata da kuma bukatar da babban birnin kasar a cikin tattalin arzikin jihar. Gaskiyar cewa ƙarar da kansa reserves na kasuwanci kudi ma'aikata kai tsaye domin sanin damar da banki aiki na rance mahaluži. Idan bukatun kafa ta Central Bank ga dace hanya, high, aiki na bankuna a kudi kasuwa kashi ne rage. A sakamakon - rage capitalization na tattalin arzikin cikin sharuddan da real kansu, duk da haka, na iya kara cikin sharuddan babban birnin kasar tsanani da kudi kansu, jama'a 'adibas.

Tightening ajiye bukatun na bankunan iya taimaka wajen rage hauhawar farashin kaya da kuma cimma sauran manufofin bukata ra'ayin mazan jiya monetary siyasa. Ne bayar da rahoto kayan aiki ne tasiri cikin sharuddan da dabarun manufofin a cikin tattalin arzikin?

Daga cikin ra'ayoyin masana a kan wannan al'amari ne daban-daban. Wasu manazarta yi imani da cewa canji a dokokin game ajiye bukatun kasance ta wucin gadi gwargwado, yayin da wasu yi imani da cewa CBR kamata a kai a kai amfani da dace kayan aiki - musamman na kowa a sau da rikicin da kuma rashin tabbas na daban-daban matakai a cikin kasa da tattalin arziki.

Saka hannu cikin Bank of ma'amaloli a kan stock mu'amala

Wadannan na kowa kayan aiki na Central Bank monetary siyasa - tsari na ma'amaloli a kan stock mu'amala. Relevant kudi cibiyoyin ne a dandali don bude umurnin. Ciki har da wadanda cewa unsa ma'amaloli a kan sayar da Securities bayar da jihar, kazalika da manyan kamfanonin da cewa aiki a cikin kasar.

Babban Bankin a wannan yanayin na iya zama wani aiki player a cikin kasuwar ta sayen, ko sayar da wasu iri Securities. Kamar yadda wani janar mulki, Central Bank taka rawa a ma'amaloli, nuna da yawa daga gwamnatin shaidu. Idan ya sayayya su, wannan na nufin cewa sun aiwatar da monetary manufofin biyã ne waɗanda cewa faye hali m tsarin kula da tsari na tattalin arziki. Wancan ne, jihar ko manyan kamfanoni don samun babban birnin kasar daga Babban Bankin iya shiryar da shi zuwa ga zuba jari a cikin sabon ayyukan (kudin, kasuwanci), da su aiwatar da ta da ci gaban da daban-daban sassa.

Bi da bi, da sayar da Securities yi tunãni gaskiya cewa manufofin da manufofin kudi na babban bankin alaka da aiwatar da ra'ayin mazan jiya tsarin kula da gudanar da tattalin arziki da matakai - kamar yadda a cikin wannan hali, da kasuwar capitalization rage.

Tabbatar key rate

Next CBA kayan aiki - saitin key kudi. Wannan nuna alama, kamar yadda muka gani a sama, da kayyade rance yanayi a kasuwa a matsayin dukan.

Kamar haka, high key CBR rate iya nuna cewa manufofin da manufofin kudi na bankin Rasha - karu a ƙarfafa muhimmancin capitalization na wasu sassa na tattalin arzikin a kudi na aro kudi, kazalika da rage a kumbura. A lokaci guda, high key kudi na babban bankin, kamar yadda mai mulkin, karfafa jama'a alkawari na kudi a bankuna a cikin nau'i na adibas - a high amfani rates. A sakamakon kara capitalization, bi da bi, bashi da kudi kungiyoyi.

A tsari na bankunan 'kudi ma'amaloli

Wani muhimmin shugabanci na manufofin kudi na jihar - tsari, da kafa ma'aunansa na bankuna. Yana yana da za'ayi a dangane da gaskiyar cewa kudi hukumomi kamata a tabbatar da zaman lafiyar na banki tsarin kamar yadda daya daga cikin key albarkatun ga aiwatar da manufofin kudi.

Commercial lamuntawa cibiyoyin taka rawar daga cikin manyan cibiyoyin kudin jihar. Suna bukatar su da wani barga kayayyakin more rayuwa da kuma aiki daidai da m dokokin - don haka da cewa su abokan ciniki, 'yan ƙasa, Enterprises da kuma kasafin kudin Tsarin, yana da damar yin amfani da kafaffen da samuwa ayyuka. The main manufofin da manufofin kudi na jihar, kuma bayar da shawarar da mafi yawan aiki da yin amfani da wannan kayayyakin more rayuwa. CB aiki - tabbatar da tasiri jeri na ta shari'a tsari da haɓaka.

Monetary siyasa na Bank of Rasha: babban manyan al'amurra

Yana da amfani la'akari da abin da manyan al'amurra na jama'a bãyukansu da Rasha Central Bank a manufofin kudi. Sama mu lura da cewa, Central Bank a matsayin babban kudi ma'aikata na jihar so daya ko sauran tsarin kula da manajan tattalin arziki matakai bisa halin da ake ciki a kasa da tattalin arziki, da real dalilai shafi ci gaban tattalin arziki. A m manufa ma characterizes Rasha Central Bank.

Wannan bashi ma'aikata, kamar yadda yi nuna, aiwatar yawanci ra'ayin mazan jiya dabarun a sau da koma bayan tattalin arziki da kuma masu sassaucin ra'ayi - tare da ci gaban da jihar tattalin arzikin. Saboda haka, a lokacin da rikicin na 2008-2009 da key kudi na babban bankin na Rasha Federation ya ƙara muhimmanci: shi ragae lamuntawa kasuwar, rage muhimmanci da capitalization na tattalin arzikin amma, a lokaci guda, sun fi mayar da taimaka wa ci gaba da hauhawar farashin kaya a wani m matakin. Bayan shawo kan rikicin, da key kudi ya rage: Babban Bankin koma wani m tattalin arziki management manufofin.

Saboda fall a man farashin da kuma Rasha wahala na dangantakar kasa da kasa a Rasha tattalin arzikin a shekara ta 2015 sake koma cikin koma bayan tattalin arziki. Babban Bankin tashe ta key sha'awa kudi da kuma ci gaba da kiyaye shi a high isa matakin. Kumbura rate - idan ka bi shi a matsayin wata babbar rarrabẽwa na da tasiri na monetary siyasa, a matsayin statistics nuna, shi ne a Rasha a kan wani m matakin.

Sa'an nan, mun lura cewa, daga tattalin arziki akwai daban-daban kimantawa ta halarci CBR ga tsara da tattalin arzikin: akwai wani ra'ayi cewa key kudi ya kamata a rage da kuma ta da rance a matsayin sakamako - ƙara matakin capitalization na daban-daban sassa na kasa da tattalin arziki.

summary

Saboda haka, da muka duba yanayi, da main manufofin da kayan monetary siyasa, wanda kuma ake magana a kai a matsayin monetary. Its main batu - Babban Bankin. Ya kasance a cajin - kumbura tsari, ma'auni na biya, da key kudi, da tsari na ayyukan kasuwanci kudi cibiyoyin cewa ma taka muhimmiyar rawa a cikin aiwatar da manufofin kudi. Dangane da tattalin arziki da halin da ake ciki a kasar, a waje, rinjayar zamantakewa da siyasa abubuwan, babban bankin na iya zabi daya ko sauran monetary dabarun, kazalika da takamaiman kayayyakin aiki, don ta aiwatar. A general, su gani da daya daga ra'ayoyin biyu: ra'ayin mazan jiya - bayar da shawara a rage capitalization na tattalin arziki da kuma ta key masana'antu, ko m - ne halin da so na Central Bank a ta da aiki musayar babban birnin kasar kasuwa mahalarta.

Daya m iya maye gurbin wasu idan ya cancanta. Alal misali, bayyanar da abubuwan bayar da tasu gudunmuwar da tattalin arziki da koma bayan tattalin arziki, da manufofin monetary siyasa a Rasha, kamar yadda mai mulkin, daidai da bege na kudi hukumomi don a rage a cikin tattalin arzikin ta capitalization. Yana kama da karuwa a babban bankin key rates, a wasu lokuta - don canja ajiye bukatun na kasuwanci na rance cibiyoyin. Amma da zaran tattalin arziki halin da ake ciki a kasar da aka stabilized - Babban Bankin, kamar yadda mai mulkin, rage key kudi.