Izixhobo kunye neentlobo ze-nkqubo wemali

Kukho iindidi ezahlukeneyo yomgaqo-lawulo wemali. Kuyaqondeka zonke iziganeko karhulumente elawula yonke le nkqubo wemali karhulumente, nophethe imarike mboleko isitshixo kunye neempawu kweentlawulo non-cash. Eyona njongo iphambili yalo mgaqo-nkqubo - ukuba ukufikelela iinjongo zoqoqosho ngokubanzi: uzinzise amaxabiso kunye nokukhula koqoqosho kunye nokomeleza lwemali.

Luluphi usukelo?

Ndiqhuba umgaqo wolawulo-mali ikhutshwa phandle ngurhulumente kunye Central Bank ukuzinzisa uqoqosho - ukomeleza lwemali kazwelonke, ekukhawuleziseni ukukhula koqoqosho, ukunciphisa amaxabiso mveliso kwaye ke ngoko on. Ekubeni yinxalenye nkqubo yoqoqosho olukhulu, ukuze ibe ekhoyo usebenzisa izixhobo ezahlukeneyo umgaqo wolawulo-mali. Phakathi iinjongo zokuphunyezwa kwayo zezi:

• Primary, leyo eyenzelwe ukuba kunyuswe ingqesho phakathi kwabantu, ukubuyisela kwinqanaba kwamaxabiso, ukunqanda ukunyuka kwamaxabiso, ukukhawulezisa isantya sokukhula koqoqosho, ukwandisa imveliso kunye nokulungelelanisa imali yesizwe lwentlawulo.
• Iinjongo esiPhakathi: Ukuze ukujongana hlengiso lwangoku kwemfuneko impahla ukusetyenziswa zamabanga aphantsi kunye nokuncipha (indyebo) kwi unikezelo imali. Ezi njongo yenzelwe enokuchaphazela nkqubo amaxabiso ukutsala utyalo-mali kunye nokwandisa amathuba emisebenzi.
• Iinjongo yamacebo okulwa: ukwambatha inkxalabo elifutshane elide kwaye ziyayilawula ubonelelo ngemali, umyinge wenzala kunye ngeranti luphela.

Kukho iindidi ezahlukeneyo yomgaqo-lawulo wemali, kunye nemeko ngamnye unethuba ukukhetha uhlobo oluthile nkqubo, kuthathelwa ingqalelo imeko yezoqoqosho kweli lizwe, ingakumbi uphuhliso lwemveliso, ngesidanga zengqesho njalo njalo.

nkqubo soft

Faka umgaqo soft lawulo wemali kukuba ikhuthaza amacandelo ahlukeneyo ezoqoqosho ngokulungisa amazinga enzala kunye nokwandisa ubonelelo ngemali. Central Bank ngexesha elifanayo wenziwe inani yokusebenza:

• Thenga izibambiso zikarhulumente, kunye nokubulawa zokusebenza olwenziwe kwimalike evulelekileyo. mali idluliselwe oovimba egcina imali kunye akhawunti oluntu. Babizwa ngokuba-nkqubo imali cheap kunegalelo unikezelo imali kunye nokuphucula ukusebenza mali kwimibutho zebhanki.
• Bank of umsebenzi eRashiya - ukuthoba izinga ubuninzi reserve ebhankini, nto leyo enokwenza ithuba abonge amacandelo ahlukeneyo kwisigaba kwezoqoqosho ibanzi kakhulu.
• Ukuncipha izinga lenzala, nto leyo eyingenelo neebhanki zorhwebo - bakwazi ukuthatha entle kakhulu mboleko. Kwelinye icala, oko kuchaphazela ukwanda umthamo mboleko ekhutshwe labemi, kodwa ke ngokwendlela kakuhle ngakumbi. Ngako oko, uqala ukutsala imali owongezelelweyo ngendlela yesibambiso.

Enyanisweni, lo mgaqo-nkqubo imali cheap lijonge ukwandisa mboleko ebhankini ukuze kuncitshiswe izinga lenzala yemali-mboleko. Ngenxa yoko, ubunzima imali ukunyuka ejikeleza.

ngqongqo umgaqo-lawulo wemali

Ijolise ukwazisa izithintelo ezahlukeneyo ukugcina ukukhula imali kwamaxabiso iye eziqulathwe. Imisebenzi zilandelayo zenziwa kwi-sikhokelo yoMgaqo-Central Bank of-nkqubo ongqongqo:

• umda bank reserve ukunciphisa ukukhula lemali banda;
• zandisa wepesenti ukuba inqanda zokuboleka evela CBA kunye nemida uboleka sabantu, ngenxa yoko, ngale zicinezelwa ndlela ukukhula imali nongezelele isidima;
• wathengisa izibambiso karhulumente iibhanki.

Umongo "nkqubo enzima"

nkqubo Dear imali kuqhutywa kwimeko xa kuyimfuneko ukugcina izinga lotshintshiselwano oluzinzileyo, ukuba kuyimfuneko, ukunciphisa imfuno imali yelinye ilizwe. Kwelinye icala, oku negalelo ukwehlisa izinga lenzala-sikhokelo ethile. Ukuphunyezwa nkqubo ezinjalo kungakhokelela zombini iziphumo ezintle nezimbi:

• aphemba mali lwecandelo non-mali, njengoko kukho ukunyuka kwesantya senzala kwiidipozithi;
• Ukukhetha kwenzeka kwamashishini ngokwendlela amaqondo ngobuchule - ukuba uza kubanalo ithuba lokuba athathe mboleko ebhankini imali eninzi.

Kodwa nkqubo dear imali kuneengxaki zako. Ngenxa yoko, umthamo ezibolekisa ziza kuncitshiswa, apho kuya kubakho ukwehla kwezoqoqosho. Khula kunye neendleko ezinxulumene kunye nokunyuka inkonzo mboleko eya bandiqumbise ukunyuka kweendleko. Inkqubo zebhanki ngokwayo ephelelwa ngo uzinzo.

nkqubo Expansionary

Kukho kwakhona iintlobo yomgaqo-lawulo wemali iyahuthaza, kwaye ubezivingcile kanye. Iinjongo zokuqala ukuthoba izinga isaphulelo, ixabiso nganye ezinga malungu abantu ngeemfuno reserve, ukongeza, umgaqo-nkqubo onjalo lu dityanisiwe ukuthenga up impahla karhulumente kwimarike ezivulekileyo. Izenzo ezinjalo zathathwa nguRhulumente ngexesha xa kukho ukuhla jikelele nokukhula kuqoqosho. msebenzi nkqubo - ukuzama ukunqanda ukukhula iyonke ngqesho kweli lizwe, ukwandisa umsebenzi yezoqoqosho yabemi.

nkqubo contractionary

Olu hlobo lwepolisi ubambe umva inyathelo, kwaye umsebenzi walo - ukunciphisa unikezelo iyonke imali. Ngenxa yoko, lo mgaqo-lawulo wemali ye-Central Bank ezivakaliswe ngokuthengiswa kweempahla zikarhulumente, ukunyusa umdla kuhlaziywe ii parameter nganye ezinga malungu abantu iimfuno bucala, ekufuneka kwandiswe. Lo mgaqo-nkqubo wenziwe ngexesha xa kukho imfuneko ukunqanda ukunyuka kwamaxabiso kunye nokuncitshiswa msebenzi ishishini.

Ziziphi izixhobo?

Umgaqo wolawulo-mali ineenjongo bayo kunye nezixhobo zokufikelela kuzo. Baye yokwahlukanisa zabo:

• Kuxhomekeka ngefuthe lezinto kuquka izixhobo ezifana yomgaqo-lawulo wemali, njengoko ukwanda lwamatyala kunye biso ngetyala. Isixhobo lokuqala ijolise ekunyuseni umgangatho engqesho nokwandisa imveliso. basiqinise Credit yenziwa ukuze kukhuselwe uqoqosho lwesizwe ukusuka msebenzi nokunciphisa kwamaxabiso.
• Kuxhomekeka ukuma umgaqo wolawulo-mali ibandakanya ukusetyenziswa kwezixhobo ngqo nengxelo-ntetho. Ngqo - iindidi imigaqo, imiyalelo kunye nemimiselo evela e-Central Bank avela. izixhobo engathanga ngqo ukubonelela ngokusekwa kwe-Central Bank of iimeko ezithile kurhwebo lwezimali ukuze aphumeze iinjongo zabo.
• Le awohluke eeparamitha yesixhobo na ubunjani kunye neenkcukacha zamanani. Eyokuqala icebisa ukuba imali-mboleko yebhanki zilawulwa ngqo umlawuli, kodwa kubonisa ifuthe ubungakanani Central Bank phezu ithuba amaziko zemali yorhwebo ngokunxulumene ukuboleka yokuboleka.

Ebalulekileyo yomgaqo-nkqubo we-Central Bank

Umgaqo wolawulo we-Central Bank isekelwe phezu utshintsho amaxabiso nganye ezinga malungu abantu koovimba. Ukongeza, i-Central Bank zinokutshintsha izinga lenzala, oko kukuthi, ukunyenyisa ipesenti ngokususela apho umlawuli liya kukhupha mboleko ukuya kurhwebo imibutho. Ngokunciphisa okanye ukunyusa isantya umdla Central Bank iphembelela ubonelelo ngemali. Ukuba izinga ekukhutshweni kwemali liphezulu, iinkampani zorhwebo kuya kuba ngaphantsi ukuboleka ngokukhupha mboleko yabo ezinqabileyo. Yeyona sixhobo obunokuguquka-nkqubo yezemali kunye samatyala lizwe, ukususela Central Bank of ipesenti encinane-mboleko, nto leyo engekho ngaphezulu kwama ngumthamo opheleleyo koovimba yebhanki.

Umgaqo wolawulo-mali kunye Russia isekelwe phezu isixhobo enjalo, njengoko indlela yokuphuma emarikeni kunye nemisebenzi enxulumene izibambiso ehlabathini. Ngaphezu koko, yonke imisebenzi aba kwimarike zasesekondari, kwaye ii-asethi eziphambili eyilwayo kanondyebo kunye kwiibhondi zikarhulumente. Xa uthenga izibambiso, ibhanki engundoqo kwandisa oovimba izakhiwo zorhwebo. Iingcali qaphela ukuba kuthengwe izibambiso yi-Central Bank sisixhobo esebenzayo ngexesha uxinzelelo.

Zeziphi iindlela?

Eyona ndlela iphambili yomgaqo-lawulo wemali zezi zilandelayo:

1. Izinga lenzala utshintsho ngokunxulumene nemisebenzi eyenziwe yi-Central Bank. Isiseko interest rate luhlaziywa ngokusekelwe iintlobo ezimbini: iirhafu wammela kunye nezinga imisebenzi ekufuneni imali.
2. Tshintsha iimfuno reserve kwezinye iinkampani ikhadi lamatyala, ekufuneka aphake imali evela kwimithombo waboleka-mali ebekelwe bucala i-Central Bank. Ezi mfuno reserve kusebenza yemali buffer endaweni ukulawula isibonelelo semali kwimarike, ukulawula amatyala inkqubo yogcino-mali.
3. Intengiselwano ukuba senziwe kwimarike izibambiso. uthenga Ibhanki engundoqo okanye athengise amanqaku promissory, bonds, impahla beebhanki kunye neenkampani. Central Bank uthenga nezibopho engamanzi kakhulu kubungozi bamatyala eliphantsi negotiability entle emarikeni.
4. Mboleko kwimibutho zebhanki yorhwebo, nto leyo eyenza kube lula ukwandisa isambuku lwamaziko zemali.

Pro con

Thina bachaze iintlobo eziphambili yomgaqo-lawulo wemali ezisetyenziswa yi-Central Bank of Russia. Kuyaphawuleka ukuba umgaqo wolawulo-mali kufuneka lwenziwe ngendlela meko ezahlukeneyo, ngokulandelelana, kwaye isiphumo yahluke kakhulu. ukusetyenziswa kwayo kuneengenelo ezithile.

Ngoko, xa inkanuko umgaqo ukunciphisa kwenzala, nto leyo echaphazela ukukhula lotyalo-mali kunye nenani nezinye iindleko. Ngaphezu koko, ichaphazela ekuthiwa- isiphumo: kwelinye icala, ukwandisa akhawunti idiphozithi beebhanki kunye imali unikezelo ukunyuka, kwelinye icala, ukuncipha kwesantya ichaphazela ukwanda kweendleko. Nangona kunjalo, ukusetyenziswa umgaqo wolawulo-mali kunokukhokelela emali. Ngokubanzi, naluphi na uhlobo yomgaqo-lawulo wemali ijolise ekuphuculeni imo yoqoqosho.