Monetary gwara: zvinangwa, tsanangudzo uye pfungwa

State upfumi ari kukura kukonzerwa kuti Implementation wenyika nyika zviremera zvemari usapinde negwaro. Chii chiri chaizvo? Ndeipi nzira kwayo zvinowanza?

Chii ndiwo mari mutemo?

Shoko rokuti "mutemo mari" Kazhinji munyaya yacho Central Bank of State kana mamwe mamiriro kuti anoita mabasa kuti dzinoenderana Central Bank. Zvikurukuru, yakadai se:

- mutemo nebasa nyaya dzemari ino, mbiri musika;

- kutyora ezvokutengeserana mabhanga;

- kurapa mitengo;

- Implementation usapinde mutemo;

- aivabatsira basa iri bhajeti guru ehurumende.

Zvikasadaro zita pfungwa - ". Mari mutemo" Mabasa Central Bank uye zvakafanana masangano, iyo vakaita mumwe chinangwa. Funga vangava.

Monetary Policy Zvinangwa

Zvinangwa Key usapinde mutemo, kazhinji, dzinoenderana mashandiro ari Central Bank of Russian Federation, yatiri vakati pamusoro. Tiri kutaura zvinangwa akadai:

- containment wokunzwa mitengo;

- nechokwadi evanhu kudzivirira vagari;

- Management pakati capitalization kiyi sectors hwenyika;

- kuona kuti Zvakanyanya Kunaka Panguva Yepamuviri nengaidzo vachibhadhara National upfumi.

Zvinangwa izvi kuisa pachavo The nechepakati pemahombekombe nyika dzakawanda, kusanganisira Bank of Russia. Zvichava kubatsira kufunga dzinokosha nzira kuti kupatsanura mabasa zviremera mari sezvo nyika mari nehurumende. zvinangwa zvaro panguva imwecheteyo zvinogona chete - sezvo vakakurukura kuonana mazita.

Anosvika kuna kupatsanura usapinde negwaro

Nyanzvi ziva mhando huru mbiri usapinde mutemo:

- kuchinja;

- kambora.

The mhando chokutanga mari mutemo zvainanga pakutevedzera zviyero izvo waidzora basa mari masangano - private uye voruzhinji, uye chinangwa kushomeka simba pamusoro chikwereti kwacho. Nokudaro, Central Bank anogona, nokuzvisarudzira yakakwirira chiero chimbadzo, kukurudzira yakafanana kuwedzera zvikwereti zvinhu oga zvemari masangano.

Muchiitiko chino, kubudirira chaizvo zvebasa mari mitemo. Sewevhu, kupfuura zvose, zviri kuderera kwemitambo mitengo, uyewo nokupa zvakanaka nepakati nokuda kunanga kweiyi yokuderedza kupinzwa. Viewed mhando usapinde mutemo kunorevawo nokuwedzera mutero mutoro pamusoro nemabhizimisi, kuti rutapudzo kuti bhajeti havashandisi mari yakawanda, Optimization kuti imupota kuzvitsinhanisa.

Loose mari mutemo kuti akurudzire kukura chikwereti pamusika, vasanyanye rokudzora pamusoro riparadzirwe guta iri upfumi, mitero, uye mubereko pamusoro zvikwereti. Central Bank havachakoshesi anokosha chimbadzo, unogona kutsigira Implementation yakafanana maitiro zvokutengeserana mabhanga.

Yakakodzera mari mutemo zvinangwa vakatevera, sezvo mutemo, zvinotevera:

- nokuwedzera upfumi wacho capitalization,

- anotokonya zvoupfumi basa ,

- Optimization pachiyero vachibhadhara - asi nokuwedzera kunze kwenyika.

Chii chinoratidza kusarudza mamiriro imwe siyana usapinde mutemo? Sei kukoshesa usapinde mutemo pamusoro Central Bank vane?

Kazhinji, zvinoenderana mamiriro nenhanho kugadzikana mamiriro mari ichaita, uyewo simba hwenyika yose. Kana National zvoupfumi kwakabatana kutanga, nokuti Central Bank rigamuchirwe kusarudza worupo nzira: kazhinji zvinobatsira Activate mari, ude zvoupfumi basa iri ezvinhu dzisingafambwi musika zvikamu.

Kana zvoupfumi ikoko, zvinangwa mari mutemo ehurumende inozviisa kuchinja. Muchiitiko chino, zvingava zvakakodzera kuti kuderedza mitengo. Sezvataona pamusoro apa, mashoko kubudirira vavariro iyi kunoita kuti kuchinja mari nehurumende. Chinangwa chawo Saka zvikuru kuratidza zvoupfumi ezvinhu hurumende. Kana National zvoupfumi iri kukura dynamically - mari mutemo inogona dzinoratidzwa zvimwe ari mudambudziko kuitika - mune dzimwe.

Chimwe zvakafanana chokuratidza kuti kupatsanura usapinde negwaro - akamboona. Saka, govera zvapararira uye haangotongi nzira upfumi murau. Ngationgororei navo kunyanya akadzama.

Rapanzvimbo mari negwaro

Kutanga, zviri kuona mutengo kuti zvose mhando usapinde mutemo akadzidza pamusoro, kuchinja uye rupo, unogona kuva vanosvika uye haangotongi. Musiyano pakati zvipenyu izvi anosvika yokudzora mari gadziriro zvakafanorongwa, saka kuti mwero wenharaunda yaitongwa zvisarudzo izvo rakatorwa Central Bank.

Saka, kana Central Bank zvokurimisa mari mutemo dzose-kunze, ipapo mirairo ake anoshanda kune vose chikwereti uye mari nemasangano anoshanda ari mamiriro. Zvinangwa uye nzira mari mutemo inogona iri nyaya chokuita kudiwa kuti vabatsire kukura kiyi sectors hwenyika, kuti mazuvaano pamusoro rwezvemabhengi kwezvivako ari mamiriro.

Kusarudza mitemo mari nemasangano rinoratidza kuparadzirwa wenharaunda yaitongwa nezvisarudzo rakatorwa Central Bank, nokuti vashoma zvikwereti uye zvemari masangano. Nokudaro, Central Bank, kuburikidza pakutevedzera mitemo anyatsosarudza vanokwanisa:

- nemiganhu pamusoro mumisha;

- kuona anomukweretesa mitemo;

- kuti kumisa munhu kuita zvinodiwa ezvokutengeserana zvemari masangano.

Panyaya iyi chinangwa chingava optimize CB chaizvo zvinhu chikwereti mamiriro ezvinhu, mubhadharo kwezvivako kuvandudza, kuvandudzika zvinodiwa maererano iyo inoshandiswa siyana muripo kwema.

In tsika, zvinangwa uye zvinangwa mari mutemo wenyika, kureva, Central Bank kana rinoenderana masangano, kazhinji kuchinja. Izvi imhaka dzose kuchinja zvoupfumi pezvakaitwa mukati munyika uye kunze, pamwe simba socio-enyika zvinhu, kwezvinhu mberi. Nokudaro, Central Bank anogona kugara zvinosanganisira marudzi ose vakasarudzwa usapinde mutemo - iyo, uwandu siyana uye kurongeka.

Zvechokwadi, mune dzimwe zvakakwana yakareba hurumende inogona kusarudza yokutanga upfumi utariri nzira uye zvishoma zvikuru nzira kuzvishandisa. Asi kuchinja mune kwokunze kwezvakatipoteredza, matambudziko enyika zvinhu CBA anogona adzokorore yavo yokusvika kuna Implementation usapinde negwaro.

Kubatsira zvino funga nhumbi dzakananga uhwo Central Bank anotonga zvoupfumi pezvakaitwa munyika.

Zviridzwa usapinde wokuti ehurumende

Modern nezvoupfumi kusiyanisa inotevera mazita dzinokosha midziyo mubvunzo:

- pave mitemo pamusoro matura ezvokutengeserana mabhanga;

- CBR vaiitawo kwema pamusoro wemari exchanges;

- pokugadzwa kiyi mwero;

- mutemo mabasa zvebhizimisi anomukweretesa masangano.

Ngatikurukurei kudzidza navo zvizere.

Reserve zvinodiwa zvebhizimisi mabhanga

Wokutanga kushandisa pamazita, kunokurukurwa pamusoro, runoonekwa somumwe kiyi, nokuti anobvumira Central Bank kuti kuchikosha kukanganisa romugove uye kudiwa kuti guta iri upfumi mamiriro. Chokwadi chokuti bhuku yayo matura sangano zvemari vezvokutengeserana zvakananga kuona nezvaanogona pakati kubhangi kuita anomukweretesa sangano. Kana zvinodiwa wakasiyiwa Central Bank kuti yakakodzera zvekuvaka, yakakwirira, basa Banks pamusika mari chidimbu ipfupi. Somugumisiro - zvisinei, akaderedza capitalization hwenyika tichitarisa nemauto chaiye, kungawedzera maererano guru kusimba nemauto zvemari, vagari 'deposits.

Tightening kuchengeterwa zvinodiwa ezvokutengeserana mabhanga kungabatsira kuderedza mitengo uye vawane zvimwe zvinangwa zvinoda kuchinja mari nehurumende. Ko nhau chokushandisa chiri kubudirira Pakuurayiwa inokosha zvinangwa zviri upfumi?

Pakati maonero nyanzvi panyaya iyi akasiyana. Vamwe vaongorori vanodavira kuti kuchinja mumirau chokuita kuchengeterwa zvinodiwa zvinofanira kuva pfupi nechiyero, nepo vamwe vanodavira kuti CBR vanofanira kugara kushandisa rakakodzera turusi - kunyanya zvakakurumbira munguva dzenhamo uye Kusanyatsoziva pezvakaitwa siyana mune National upfumi.

Kusangana Bank of kwema pamusoro wemari exchanges

Zvinotevera zvakakurumbira Chestkuva Central Bank mari mutemo - mutemo kwema pamusoro wemari exchanges. Relevant zvemari masangano ari pachikuva kuti rakavhurika zvaidiwa. Kusanganisira avo anobatanidzira kwema pamusoro kutengwa uye kutengesa kuchengetedzeka nekanzuru mamiriro, uyewo emakambani makuru kuti ushande munyika.

Central Bank mu iyi inogona kuva achishingaira mutambi pamisika nekutenga kana vachitengesa mamwe kuchengetedzeka. Kazhinji, Central Bank paChikoro kwema, kuratidza turnover nehurumende kusungwa. Kana anotenga kwavari, zvinoreva kuti ivo chinozoiswa mari mutemo zvinangwa vakatevera vari avo kuti munguva worupo nzira mutemo hwenyika. Kureva hurumende kana huru makambani kuti vawane guta kubva Central Bank anogona kurishandisa mari mumabasa itsva (cost, zvokutengeserana), kushandisa zvinowedzera kukura sectors siyana.

Uyewo, kutengeswa kuchengetedzeka ringaratidza kuti zvinangwa mari mutemo kuti Central Bank chokuita Implementation munhu kuchinja yokusvika basa zvoupfumi pezvakaitwa - sezvo iri nyaya, musika capitalization kunoderedza.

Nokuvumba zvazvingava anokosha

Next CBA turusi - kuisa zvazvingava anokosha. chakarurama ichi, sezvataona kumusoro, anosarudza kuti chikwereti ezvinhu ari pamusika yose.

Saka, yakakwirira chinoita CBR zvazvingava zvingaratidza kuti zvinangwa mari mutemo kuti Bank of Russia - kuderera simba rinomutsa vana capitalization mamwe sectors hwenyika tichiregeredza vakakwereta mari, uyewo vasanyanye mitengo. Panguva iyoyowo, mukuru mwero kiyi Central Bank, sezvinoita mutemo, rinokurudzira ehurumende kubatikana mari dziri mabhanga muchimiro deposits - panguva soro kufarira prices. Somugumisiro kuwedzera capitalization, akavapindurawo, chikwereti uye masangano zvemari.

The murau ezvokutengeserana mabhanga 'kwema zvemari

Chimwe chinokosha pokutungamirira mari wokuti hurumende - murau, pakatangwa mitemo ezvokutengeserana mabhanga. Voitakura kunze maererano yokuti zviremera zvemari vanofanira nechokwadi kutsiga rwezvemabhengi gadziriro somumwe kiyi zvinhu nokuda Implementation usapinde negwaro.

Commercial anomukweretesa Masangano kuridza basa zvikuru masangano nemari ehurumende. Vanofanira kuva yakatsiga kwezvivako uye kushanda maererano nemitemo kuomesa - zvokuti avo vatengi, vagari, mabhizimisi uye budgetary zvivako, aiva nomukana kushandisa akachengeteka uye iripo mabasa. The chikuru zvebasa akarirasa wokuti hurumende uyewo anoratidza kupfuura vanoshingaira kushandiswa kwezvivako izvi. CB basa - nechokwadi anobudirira inogara pamutemo mutemo wayo uye upgrading.

Monetary nomutemo wemadzimambo Bank of Russia: huru kukoshesa

Zvinobatsira kufunga zvainyanya kukosheswa paruzhinji inoomerera Russian Central Bank hwemari negwaro. Above tinoona kuti Central Bank sezvo huru urongwa nemari ehurumende anosarudza mumwe kana mumwe nzira yokudzora zveupfumi pezvakaitwa inobva ezvinhu National upfumi, chaiye zvikonzero kukanganisa kukura upfumi. A runoenzanirana musimboti uyewo kuratidza Russian Central Bank.

Izvi chikwereti sangano, sezvo tsika inoratidza zvokurimisa vakawanda kuchinja urongwa munguva kudzikira uye rupo - pamwe kukura mamiriro upfumi. Saka, panguva dambudziko 2008-2009 nhamba kiyi Central Bank of Russian Federation yakawedzera yekudyidzana: nayo kufambira achiposa musika, yekudyidzana akaderedza capitalization hwenyika asi, panguva imwe chete, kunyanya akabatsira kuchengeta mitengo pa inogamuchirika chechetere. Takunda matambudziko, mwero chikuru shoma: Central Bank akatamira kusununguka ezvoupfumi utariri mitemo.

Nokuda kuwa muna mitengo mafuta uye Russian kuomesa kwakaita dzakawanda ukama Russian upfumi muna 2015 vakatamira zvakare kupinda kudzikira. Central Bank akamutsa ayo anokosha chimbadzo uye anoramba kuiita nenguva refu zvakakwana chechetere. Mitengo zvazvingava - kana kurapa sechinhu chikuru chokuratidza kuti kubudirira mari mutemo, sezvo ongororo yakaitwa inoratidza, zviri Russia iri inogamuchirika chechetere.

Zvakare, tinoona kuti pakati nezvoupfumi pane zvakasiyana Kukoshesa anosvika CBR waidzora upfumi: pane maonero kuti nhamba huru inofanira kuderedzwa zvokonzera neanokweretesa Somugumisiro - kuwedzera padanho capitalization kuti siyana sectors National upfumi.

pfupiso

Saka, takurukura hunhu, chikuru zvinangwa uye zvokuridzira mari mutemo, rinova kunzi mari. Its pasi chikuru - musimboti bhengi. Akanga ari mutariri - mitengo murau, pakuenzanisa vachibhadhara, mwero kiyi, murau mabasa vezvokutengeserana yemari masangano kuti inoitawo inokosha basa Implementation usapinde negwaro. Zvichienderana zvoupfumi ezvinhu munyika, kunze, simba socio-enyika zvinhu, Central Bank anogona kusarudza mumwe kana vamwe mari nzira, uyewo dzakananga maturusi ayo Implementation. Kazhinji, vanoratidza mumwe nzira mbiri: kuchinja - zvichireva zvinoderedza pakati capitalization youpfumi uye ayo anokosha maindasitiri, kana zvakawanda - kunoratidzwa chido Central Bank kuti inotokonya vanoshingaira kupanana musika guru macho.

Imwe nzira inogona kutsiva mumwe kana zvakakodzera. Somuenzaniso, pakuonekwa zvinokonzera kuita kuti upfumi kudzikira, zvinangwa usapinde Mutemo Russia, sezvo mutemo, anoratidza chido zviremera emari zvinoderedza upfumi wacho capitalization. Zvinoita sokunge kuwedzera nechepakati bhengi anokosha rates, mune zvimwe zviitiko - kuchinja kuchengeterwa zvinodiwa ezvokutengeserana anomukweretesa masangano. Asi panongovira mamiriro ezvinhu munyika zvoupfumi iri akagadzikana - Central Bank, sezvo mutemo, kuderedza mwero anokosha.