In the current economic situation, how should China choose monetary instruments?

Monetary policy instruments mainly refer to the statutory reserve ratio, rediscount policy and open market operations. At present, the economy is mainly dominated by increasing inflationary pressures, and monetary policy can be selected from the following aspects:

1. Raising the statutory reserve ratio can rapidly reduce the deposit expansion multiples and money multipliers of commercial banks, so as to regulate and control the money supply. But the effect of this tool is too violent and it is not advisable to use it often.

2. Raising the rediscount rate: The cost of borrowing funds from commercial banks has increased, the amount of credit provided by commercial banks to society has decreased, and the total money supply has decreased.

Increasing the rediscount rate will change the conditions for rediscount eligibility, change the flow of funds, and inhibit or support the sectoral economy.

However, the initiative of this tool is poor and the regulatory effect is limited.

3. Selling at a premium through open market business**: Directly reduce the amount of the base currency and reduce the amount of currency**.

Selling the price** will reduce the price**** and adjust the amount of social credit.

The open market business has the characteristics of strong initiative, high flexibility, moderate regulation effect, good announcement effect and wide range of influence.

There are conditions for the effective play of the role of open market operations.

The economy is currently in a mild recession and on the cold side.

A proactive fiscal policy and a prudent monetary policy should be adopted.

In addition, the administrative measures of ** should also play a moderate role.

Moderately loose monetary policy.

The main monetary policy tools used in China are: statutory reserve policy, rediscount policy and open market policy.

The deposit reserve system is a policy measure for banks to affect the credit scale of commercial banks by adjusting the statutory deposit reserve ratio, so as to indirectly control the amount of social money.

The rediscount policy is a policy measure for banks to intervene and influence the market interest rate by directly adjusting or formulating the discount rate on qualified bills, so as to regulate the amount of money.

Open market business is the behavior of a bank to openly buy and sell various valuable items in the market to control the money supply and affect the level of interest rates.

Money market instruments.

It is a financial instrument that can be traded in the lending market for short-term distressed funds.

Due to its high liquidity and security, it has attracted the attention of many investors. So, what are some common money market instruments? What are the features of money market instruments? Let's talk about it today.

1. What are the characteristics of money market instruments?

Mainly refers to debt instruments with a maturity of less than or equal to 1 year, which are highly liquid and part of fixed income**. There are three characteristics that can be summarized in it:

1) are all debt contracts;

2) The term is less than one year;

3) Generally show a high degree of security of the principal and belong to the fixed expected income bond.

2. What are the common money market instruments?

1) Short-term Treasury bonds.

Short-term treasury bonds are treasury bonds of less than one year, which have the characteristics of low risk, high liquidity, and short maturity.

2) Negotiable certificates of deposit.

Most of the large-value negotiable certificates of deposit are issued by large banks, and the maturity is mostly less than one year; With a large amount, bearer, can not be withdrawn in advance, can be in the secondary market.

on the characteristics of the transaction transfer.

3) Commercial paper.

by financial companies.

or unsecured short-term notes issued by certain companies with higher credit. It can be endorsed and transferred, and it can be discounted, generally within one year. Its characteristics are: vouchers with certain powers, standardization and standardization, and negotiable **.

4) Banker's Acceptance Draft.

A banker's acceptance draft is a commercial draft.

A kind of bill of exchange in which the bank promises to pay when due is called a bank acceptance bill; It has the characteristics of strong acceptance, strong liquidity and cost saving.

Handshake The above about what are the common money market tools and what are the characteristics of money market tools are said here, I hope it will be helpful to everyone. Warm reminder, financial management is risky, investment needs to be cautious.

The so-called general monetary policy tools refer to the tools for adjusting the total amount of money and credit, mainly including the statutory deposit reserve ratio policy, the rediscount rate policy and the open market business.

Selective monetary policy tools refer to the credit adjustment tools used by banks for certain special economic sectors or special purposes of credit, mainly to achieve structural control objectives. Commonly used selective policy tools include market credit control, real estate credit control, consumer credit control, preferential interest rates, etc.

In addition to the above-mentioned general monetary policy tools and selective monetary policy tools, ** banks can also use a number of other monetary policy tools according to the country's situation and the specific needs of different periods. Among them, there are both direct and indirect credit control. Direct credit control tools include credit rationing, liquidity ratios, interest rate caps, direct interventions, special deposits, etc.; Indirect credit control includes window guidance, moral advice, etc.

The main tools of currency crowd testing are the principle of leverage, and then there is the country's macroeconomic control.

Monetary policy in our country.

The main tools are: regular tools with their own tools, selection tools, supplementary tools and new tools. The monetary policy tool is ** bank for DAOs

to the monetary policy objectives and the means taken. The operational indicators of China's monetary policy mainly monitor the base currency, the excess reserve ratio of banks, the interest rate in the interbank lending market, and the repo rate in the interbank bond market.

** The instruments used by banks that have a comprehensive or general impact on the expansion and tightening of monetary credit in the financial system as a whole are the most important monetary policy tools. It is mainly to adjust the amount of money and the scale of credit in terms of aggregate.

The monetary policy objective is the monetary policy adopted by a country's first bank or monetary authority.

The main three tools are:

Deposit and loan interest rates.

Reserve Requirement Ratio.

Open Market Operations.

Of course, there are others, such as adjusting taxes and fees.

Rediscount rate, reserve requirement ratio, open market operations.

Deposit and loan interest rates.

Reserve Requirement Ratio Exchange Rate.

There is only one bai:

Printing money. As of April 2017, the balance of China's broad currency M2 reached RMB trillion, an increase of more than 104 times compared with the 1990 trillion.

It is about the exchange rate of the month, which is converted into trillions of dollars, and the US M2 is trillions of US dollars in the same period, and China's M2 far exceeds that of the US M2. You must know that China's GDP containing water is less than half of that of the United States, and the per capita GDP is even more far apart. China's M2 stock not only surpasses Europe and the United States, accounting for 25% of the global scale, its new M2 accounts for about 50% of the world's perennial year, a country's new currency exceeds the sum of the currencies of the rest of the world's countries, and a quarter of the world's largest economy is printed in a year, all the money of the United States, from any angle and standard analysis, it is difficult to say that there is no indiscriminate issuance of currency.

consumer credit control;

Market credit control;

real estate credit control;

preferential interest rates; Special Deposits.

Open market business.

Reserve Requirements.

Interest rate policy. Medium-term lending facility.

Standing Lending Facility.

targeted medium-term lending facilities, etc.

Monetary policy tools are the means used by banks to achieve monetary policy objectives. At this stage, China's monetary policy tools are mainly of the above.

Open market business.

Reserve Requirements.

Interest rate policy. Medium-term lending facility.

Does not include the amount of currency**

The main monetary policy tools are: reserve ratio, interest rate, monetary target, exchange rate, etc.

Monetary policy is a macroeconomic policy that is used to influence factors such as the amount of money, money market interest rates, and credit market interest rates, so as to achieve macroeconomic goals. The main ones that belong to the monetary policy bridge sedan are:

Reserve Requirement Ratio: The reserve requirement ratio refers to a certain percentage of commercial banks' deposits retained in ** banks. By adjusting the reserve ratio, banks can affect the bank's deposit and loan behavior, which in turn affects factors such as the amount of money and the market interest rate of money.

Interest rate: The central bank can affect the level of market interest rates by adjusting loan interest rates, deposit interest rates, open market operation interest rates, etc., which in turn affect the amount of money and economic activities.

Monetary quantity target: The central bank intervenes by setting monetary quantity targets and intervening through purchases and domestic foreign exchange to control money supply and maintain stable economic development. Exchange Rate:

The central bank can manage the exchange rate, which in turn affects the amount of money and economic activity.

Monetary policy credit tools: The central bank can set up special policies, provide preferential loans to financial institutions or make direct loans, etc., to encourage or restrict the credit behavior of financial institutions, and indirectly affect the amount of money and economic activities. The above are some of the common types of monetary policy tools, and the central bank can choose to adopt the appropriate monetary policy tools according to various policy objectives and economic conditions to achieve macroeconomic objectives.

The significance of monetary policy

Monetary policy refers to a macroeconomic policy in which the national bank uses monetary policy means to adjust the amount of currency and affect economic activities, so as to achieve macroeconomic regulation and control. The significance of monetary policy includes: controlling inflation

Through monetary policy means, the central bank can regulate the amount of money, interest rates, etc., control inflation, and maintain the purchasing power and stability of money.

Stimulate economic growth: Monetary policy can affect investment and consumer demand, stimulate economic growth, and promote economic performance. Maintaining Financial Stability:

Monetary policy can affect the operation of banks and markets, stabilize financial markets, and avoid problems such as financial risks and financial crises.

Adjust income distribution: Monetary policy can adjust the economic structure, adjust income distribution, and promote social equity and economic development by adjusting interest rates and monetary amounts. Improving international competitiveness:

Monetary policy can affect the exchange rate in the foreign exchange market and improve the international competitiveness and status of the economy.

Answer]: a, b, c, e

China's monetary policy tools mainly include: deposit reserves, rediscounting and relending, open market operations and interest rate tools. In addition to the above, in recent years, China has also added a new monetary policy tool for leakage and chaos, that is, standing lending facilities.