Mfundo Monetary: zolinga, matanthauzo ndi mfundo

State chuma ikukula chifukwa cha mlili wa kukhazikitsa boma la dzikolo ndalama mfundo ndalama. Kwenikweni ake ndi chiyani? Ndani mwa njira zake Ambiri?

ndicho mfundo ndalama zimene?

Mawu akuti "mfundo ndalama" nthawi tikambirana nkhani ya Bank ku Central ya Boma kapena nyumba zina kuchita ntchito imene zizigwirizana CB lapansi. Makamaka, monga:

- lamulo la zochitika za nzika za chuma dongosolo, ulemerero msika;

- pulogalamuyo a mabanki malonda;

- kasamalidwe kufufuma;

- kukhazikitsa mfundo ndalama;

- atsogolere pa kayendetsedwe ka ndalama likulu la boma.

Apo ayi dzina ndi maganizo - ". Mfundo ndalama" Ntchito za Bank ku Central ndi mabungwe zofanana, amene anagwira cholinga chinachake. Taonani zimene iwo akhale.

Zolinga Monetary Policy

Zolinga chifungulo cha ndondomeko ya ndalama ambiri, amayenderana ndi ntchito za Bank ku Central wa Russian Federation, zimene tanena pamwambazi. Tikuyankhula zokhudza zolinga monga:

- containment cha kufufuma kwambiri;

- kuonetsetsa kuteteza moyo wa nzika za dziko;

- Management wa capitalization a Boma chifungulo cha chuma;

- kuonetsetsa mulingo woyenera bwino malipiro a chuma cha dziko.

zolinga amenewa okha The magombe a pakati pa mayiko ambiri, kuphatikizapo Bank of Russia. Iwo akhala akugwira kuganizira njira zoyambirira gulu la ntchito za akuluakulu a zachuma monga mfundo ndalama za dziko. zolinga zake pa nthawi yomweyo akhale yemweyo - ngati kukhudzana mndandanda takambirana.

Njira gulu la ndondomeko ndalama

Akatswiri kudziwa mitundu iwiri chachikulu cha mfundo ndalama:

- ndiwofatsa;

- owolowa manja.

Yoyamba mfundo ndalama umalimbana ndikukhazikitsa miyeso omwe zonse ntchito mabungwe a zachuma - payekha ndi anthu, ndipo anafuna kuchepetsa mphamvu ya ntchito ngongole. Choncho Bank ku Central mwina, ndi atakhala mkulu chiwongola dzanja miyeso yolinganizira, Zimachititsa kuwonjezereka ofanana zinthu ngongole ndi mabungwe payekha ndalama.

Pankhaniyi, akwaniritsa zolinga zenizeni za ndondomeko ndalama. Monga koposa zonse, kuchepetsa kufufuma, komanso kupereka muyezo zabwino chifukwa kukondoweza zotsalira za kuchepetsa imports. Ankaona mtundu wa mfundo ndalama zimasonyezanso kuwonjezeka katundu msonkho pa mabizinezi, kuchepetsa ndalama bajeti, kukhathamiritsa wa inatha M'MALO.

Khalidwe mfundo ndalama yotithandiza kukula kwa ngongole msika, kuchepa kwa ulamuliro pa makope likulu mu chuma, misonkho, ndi chidwi pa ngongole. Bank chapakati adatchithisira mlingo zake zazikulu chidwi, akhoza kulimbikitsa kukhazikitsa zochita zofanana ndi mabanki malonda.

Yoyenera zolinga mfundo ndalama anathamangitsa, monga ulamuliro, izi:

- kuwonjezeka capitalization chuma cha,

- zolimbikitsa ntchito zachuma ,

- kukhathamiritsa ya bwino kubweza - koma ndi kuwonjezeka zogulitsa kunja.

Kodi Mzimuyo kusankha boma la makamaka zosiyanasiyana mfundo ndalama? Kodi zinthu mfundo ndalama ya gombe chapakati?

Monga ulamuliro, izo zimatengera pa mlingo panopa mtendere wa boma la zachuma, komanso mphamvu ya chuma wonse. Ngati dziko chuma zokhudzana ndi osauka, chifukwa Bank ku Central ovomerezeka kwa kusankha njira aufulu: kumakonda amathandiza kuti yambitsa ndalama, yotithandiza ntchito chuma zikhalidwe za zigawo ulesi msika.

Ngati mavuto azachuma kumeneko, zolinga za ndondomekoyi ndalama za boma ndi nkhani kusintha. Pankhaniyi, kungakhale kofunika kuchepetsa kufufuma. Monga momwe taonera pamwambapa, kukwaniritsa cholinga zimenezi kumathandiza lamulo ndiwofatsa ndalama. cholinga chake Motero kwakukulukulu kuonetsa mmene chuma chikuyendera mu boma. Ngati chuma cha dziko kusiyana pompopompo - mfundo ndalama akhoza yodziwika ndi zina mwa mumaganiza mavuto - mu ena.

muyeso wina wamba gulu la ndondomeko ndalama - lonse. Choncho, kuonetsetsa njira mukuchitika ndi kusankha lamulo zachuma. Tiyeni tione iwo mwatsatanetsatane makamaka.

The lonse la malamulo ndalama

Choyamba, ndi Dziwani kuti mtundu wa mfundo ndalama anaphunzira pamwamba, ndiwofatsa komanso owolowa manja, akhoza kukhala okwana ndi kusankha. Kusiyana mitundu awa njira yosamalira chuma ndi anakonzeratu, kotero kuti mmene ulamuliro wa zochita kuti atengedwa ndi Bank wa Central.

Choncho, ngati Bank ku Central zipangizo mfundo ndalama zonse kunja, ndiye malangizo ake ntchito kwa onse ngongole ndi ndalama mabungwe amene ntchito mu boma. Zolinga ndi njira mfundo ndalama akhoza kukhala mu nkhani ikukhudzana bwanji ndi kufunika yotithandiza kakulidwe ka Boma chifungulo cha chuma, ndi wamakono wa zomangamanga ndi banki ya boma.

Kusankha ndondomeko ya ndalama mabungwe zikusonyeza kufala kwa ulamuliro wa zochita chojambulidwa Bank ku Central, chifukwa ochepa ngongole ndi mabungwe ena azachuma. Choncho Bank Central, ndi kukhazikitsa ndondomeko kusankha angathe:

- amaika malire pa midzi;

- kudziwa kukongoza miyezo;

- kukhazikitsa muyezo ntchito munthu mabungwe malonda ndalama.

Pankhaniyi cholinga chake chingakhale konza CB zinthu zenizeni ngongole boma dongosolo, kusintha malipiro zomangamanga, kusintha mfundo malinga ndi zomwe mumakhala zosiyanasiyana wotuluka malipiro.

Zochita za zolinga za ndondomekoyi ndalama ya boma, ie, Bank ku Central kapena mabungwe ofanana, nthawi zambiri kusintha. Ichi ndi chifukwa kusintha zonse mu njira zachuma mu dziko ndi kunja, ndi chikoka cha zinthu umoyo ndale patsogolo sayansi. Choncho Bank ku Central Nthawi kumafuna mitundu yonse anasankha mfundo ndalama - amene osakaniza osiyanasiyana ndi dongosolo.

Inde, ena nthawi mokwanira yaitali boma akhoza kusankha patsogolo chuma njira kasamalidwe ndi zochepa kwambiri zina amagwiritsa ntchito. Koma ndi kusintha kwa chilengedwe kunja, mmene zinthu ndale CBA mwina kubwereza njira zawo kukhazikitsa mfundo ndalama.

Zothandiza Tsopano tikambirana zida zenizeni ndi zomwe banki chapakati akulamulira njira chuma dziko.

Zida za mfundo ndalama za boma

chuma Modern kusiyanitsa mndandanda wa zida zofunika funso:

- malamulo m'midzi a mabanki malonda;

- CBR nawo wotuluka pa kuphana katundu;

- kukhazikitsidwa kwa mlingo chinsinsi;

- lamulo la ntchito za mabungwe kukongoza malonda.

Tiyeni kuphunzira iwo mwatsatanetsatane.

Reserve zofunika mabanki malonda

The chida choyamba mu mndandanda, anakambirana pamwamba, amaona ngati wina kiyi chifukwa timatha banki chapakati kukhale kothandiza kwambiri pa okwanira ndi anamuuza likulu pa chuma cha boma. Mfundo yakuti buku la nkhokwe yake ya bungwe malonda ndalama mwachindunji kudziwa maluso a banki akuchita kukongoza chilli. Ngati amafuna anapereka Bank ku Central kwa gwero yoyenera, mkulu, ntchito za mabanki mu gawo msika chuma yafupika. Chifukwa - yafupika capitalization wa chuma mu mawu a gawo weniweni Komabe, kuwonjezera mawu a likulu mwamphamvu ya nchito ndalama, madipoziti nzika.

Kumanga amafuna malo a mabanki malonda akhoza kuchepetsa kufufuma ndi kukwaniritsa zolinga zina zofuna mfundo ndalama ndiwofatsa. Ndi malipoti chida othandiza mu mawu a zolinga njira mu chuma?

Mwa malingaliro a akatswiri pa nkhani imeneyi ndi zosiyana. Akatswiri ena amakhulupirira kuti kusintha malamulo pa zimene malo akhale muyeso wosakhalitsa, pamene ena amakhulupirira kuti CBR nthawi zonse tiyenera kugwiritsa ntchito yoyenera chida - makamaka wofala m'nthawi ya mavuto ndiponso nkhawa za njira zosiyanasiyana chuma cha dziko.

Nawo Bank of wotuluka pa kuphana katundu

Zotsatirazi wamba chida cha mfundo Bank chapakati ndalama - lamulo wotuluka pa kuphana katundu. Zogwirizana mabungwe ndalama nsanja kuyitana lotseguka. Kuphatikizapo yokhudza wotuluka pa kugula ndi kugulitsa masheya wosindikiza boma komanso mabungwe ang'onoang'ono lalikulu ntchito mu dziko.

Bank chapakati mu nkhani iyi ikhoza kukhala yogwira player kumsika ndi kugula kapena kugulitsa mitundu ina ya sheya. Tinganene, Bank ku Central mtsikanayu wotuluka, kunyezimiritsa zolowa kumangidwa boma. Ngati akugula iwo, zikutanthauza kuti iwo akuyendera ndalama zolinga mfundo anathamangitsa ndi iwo amene zimaonetsa njira owolowa manja lamulo la chuma. Ndiko kuti, boma kapena lalikulu makampani kupeza likulu ku Bank ku Central akhoza kutitsogolera kuti aganyali ntchito watsopano (mtengo, malonda), kugwiritsa yotithandiza kakulidwe ka Boma zosiyanasiyana.

Nawonso kugulitsa masheya akhoza kusonyeza chakuti Zolinga za ndondomekoyi ndalama za Bank ku Central zokhudzana ndi kukhazikitsa njira ndiwofatsa kuti kasamalidwe njira zachuma - monga mu nkhani iyi, msika capitalization utachepa.

Kukhazikitsa mlingo kiyi

Kenako CBA chida - atakhala mlingo kiyi. chizindikiro ichi, monga taonera pamwambapa, amasankha zinthu ngongole pa msika lonse.

Choncho, mkulu kiyi CBR mlingo zingasonyeze kuti Zolinga za ndondomekoyi ndalama za Bank of Russia - kuchepa mphamvu ya capitalization a Boma zina za chuma likuvutika ndalama abwereka, komanso kuchepa kufufuma. Pa nthawi yomweyo, mkulu kiyi mlingo wa Bank ku Central, monga ulamuliro, limalimbikitsa chinkhoswe boma la ndalama ku mabanki mu mawonekedwe a madipoziti - pa ziwawa chidwi. Chifukwa cha kuchuluka capitalization Nayenso ngongole ndi mabungwe a zachuma.

The lamulo ankayendetsa zachuma mabanki malonda '

malangizo ena ofunika kwambiri mfundo ndalama za boma - lamulo, kukhazikitsidwa mfundo za mabanki malonda. Iwo ikuchitika mogwirizana ndi mfundo zimene boma ndalama awonetsetse mtendere wa dongosolo banki monga mmodzi wa chuma kwambiri kwa kukhazikitsa mfundo ndalama.

mabungwe kukongoza malonda ndi mbali ya mabungwe akuluakulu ndalama ya boma. Iwo ayenera kukhala ndi zomangamanga khola ndi ntchito mogwirizana ndi malamulo okhwima - kotero kuti makasitomala awo, nzika, mabungwe ang'onoang'ono ndi nyumba bajeti, ndi mwayi ntchito makondomu otetezeka ndipo zilipo. Zolinga zikuluzikulu za malamulo ndalama za boma komanso amati ntchito kwambiri yogwira zomangamanga izi. CB ntchito - awonetsetse ogwira mayikidwe a lamulo lake malamulo ndi kukulitsa.

Monetary lamulo la Bank of Russia: zinthu zazikulu

Imathandiza kuti tione zimene zofunika kwa anthu chimatsatira Bank Russian chapakati mu ndondomeko ndalama. Pamwamba tinaona kuti Bank ku Central monga waukulu bungwe chuma cha boma amasankha munthu kapena njira zina yosamalira njira zachuma potengera zinthu chuma cha dziko, zinthu zenizeni zokhudza chitukuko cha chuma. Mfundo lolingana komanso khalidwe la Russian Bank Central.

Izi bungwe ngongole, ikusonyeza kumapeto, zipangizo ambiri ndiwofatsa strategy mu nthawi ya mavuto ndi owolowa manja - ndi kukula kwa boma. Choncho, pa vuto la 2008-2009 mlingo chifungulo cha Bank ku Central la Chitaganya cha Russia chawonjezeka kwambiri: izo mochedwa kukongoza msika, kwambiri anachepetsa capitalization a zachuma, koma pa nthawi yomweyo, makamaka zinathandiza kuti kufufuma pa mlingo yovomerezedwa. Pambuyo kugonjetsa vutoli, mlingo kiyi ali utachepa: Bank ku Central anasamukira ku ndondomeko ufulu kasamalidwe zachuma.

Chifukwa kugwa mu mitengo mafuta ndi Russian Vuto la mgwirizano wa mayiko mu Russian chuma mu 2015 kachiwiri tinasamukira mavuto. Bank chapakati anakweza mtengo zake zazikulu chidwi ndipo akupitiriza nauyang'anire pa mkulu mlingo zokwanira. mlingo kufufuma - ngati inu thanzi monga muyezo yaikulu mtima kwa ndondomeko ya ndalama monga ziwerengero zikusonyeza kuti ali mu Russia pa mlingo yovomerezedwa.

Apanso tikuona kuti mwa chuma pali kuwunika osiyana wakudza CBR zonse chuma: pali maganizo kuti mlingo kiyi ayenera kuchepetsedwa ndi yotithandiza kukongoza monga Motero - kuwonjezera mlingo wa capitalization a zigawo zosiyanasiyana za chuma cha dziko.

chidule

Choncho, takambirana chikhalidwe, zolinga zikuluzikulu ndi zipangizo za ndondomeko ya ndalama imene umatchedwanso ndalama. nkhani zikuluzikulu - banki chapakati. Iye anali woyang'anira - kufufuma lamulo, muyezo wa ndalama, mlingo kiyi, lamulo la za ntchito za mabungwe malonda ndalama kuti nawonso amathandiza kwambiri kukhazikitsa mfundo ndalama. Malinga ndi mmene chuma chikuyendera m'dzikolo, kunja, chikoka cha zinthu umoyo ndale, Bank ku Central angasankhe chimodzi kapena chimzake njira ndalama, komanso zida zenizeni chifukwa kukhazikitsa. Ambiri, zimaonetsela munthu wa njira ziwiri: ndiwofatsa - ankatanthauza kuchepetsa wa capitalization ya ndalama komanso mafakitale zake zazikulu, kapena aufulu - amakhala ndi chilakolako cha Bank ku Central yotithandiza kuwombola yogwira gulu likulu msika.

njira imodzi mukhoza m'malo ena ngati pakufunika kutero. Mwachitsanzo, maonekedwe a zinthu achititsa kuti zachuma, zolinga za mfundo ndalama ku Russia, monga ulamuliro, kusonyeza chilakolako cha boma ndalama kuchepetsa capitalization chuma cha. Izo zikuwoneka ngati ndi kuwonjezeka mu mitengo banki chapakati kiyi zina - kusintha zofunika malo mabungwe kukongoza malonda. Koma mwamsanga mmene chuma chikuyendera m'dzikolo ndi okhazikika - Bank ku Central, monga ulamuliro, kuchepetsa mlingo kiyi.