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Monetary power and its role in controlling spending
02/8/2018 12:00 am [rtl]Baghdad / Emad emirate plays a monetary authority, through the control of interest rates and bank credit rate, a role in controlling the spending of economic units and maintain the value of the currency swings that may hit it due to a deficit in the balance of payments, as it adopts monetary policy - according to specialists - a set of goals Independently of each other to have a clear impact on the structure of the economy. Price stability between the academic economist d. "Monetary policy is working to reduce the impact of continuous changes in the level of prices and the attendant fluctuations in the value of money, and its adverse effects on the level of distribution of incomes and wealth and the allocation of economic resources," stressing that "the goal of price stability of monetary priorities of the Authority to maintain the value and size Monetary trading in the economy ". Balance of Payments "When a balance-of-payments deficit occurs, monetary policy raises the interest rate, leading to a decline in the credit of the economic authority and then its liquidity, which makes it regain its capital abroad and the return of foreign capital to the country following the rise in the local interest rate," he added. To the rise in the size of foreign assets and improve the balance of payments and vice versa occurs in the case of surplus. "The monetary authority seeks to influence and revive the investment environment to achieve a continuous and appropriate increase in GDP growth or average real per capita income by influencing the investment by changing interest rates that achieve growth rates in GDP," he said. interest rates For his part, said the academic economist d. Falah Hassan Thwaini "Monetary policy can not achieve two or more goals at the same time, for example, stabilization of prices often collide with the stabilization of interest rates, and the reduction of inflation requires a monetary policy of deflation to raise interest rates, which causes the reduction Investment ". The economic situation explained Thueni "reaching the ultimate goal of monetary policy necessitates a number of measures that require a period of time to choose and start implementation and achieve results, and may be during the period of time shift in the economic situation, so that the procedures are not commensurate with the situations that have arisen and the goals that came To achieve ". He stressed that "the state of financial panic can undermine the monetary policy of its target if it occurs, the monetary authority should change its strategy in the event of a state of financial panic to ensure the integrity of the banking system and the flow of credit properly ." Contractionary policy , said Dr. Thuwainy that "if there was the case of financial panic causes non - cash real reasons or expectations of individuals under a deflationary policy, that would hinder the application of monetary policy , " explaining that "should the monetary authority to follow an expansionary policy to avoid the aggravation of this situation to be "Financial panic can be mitigated by increasing operating or making the central bank's cash reserves readily available through the discount mechanism to provide liquidity to banks to handle withdrawals and then control the financial panic."[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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