Theme: «Monetary policy» . Elaborated by: Turmakhan Gul`sezim VM-208 Evaluated by: Yessengaziyeva Saule, c. e. sc, associate professor ALMATY 2015
The concept of monetary policy Main directions Instruments Problems Conclusion References
Monetary (monetary) policy - a policy of the state, affecting the amount of money in circulation in order to ensure price stability, full employment, and the growth of real output. It implements monetary policy the central bank.
Money - a combination of the assets used in transactions. There are cash (coins, notes) and bank money (the money on current accounts of individuals and legal entities in the banks). The money (assets) include not only notes and coins, and deposits (bank deposits), bank certificates, government bonds, etc.
Objects of regulation - supply and demand in the money market.
Subjects of regulation - the banks and other financial institutions participating in the financial system.
Explore monetary policy - the central bank or the "bank of banks"
Monetary policy is a set of government measures to regulate the money market and monetary system in order to ensure stabilization of the economy.
improving the efficiency and competitiveness of the national economy, improving well-being.
1. 2. 3. 4. 5. 6. 7. Financial stabilization of the economy, Maintaining a stable growth rate of the money supply, Regulation of the refinance rate and reserve requirements, The regulation of the national currency. Reducing the rate of inflation, The development of the monetary system, the formation of new financial institutions, The deregulation of the monetary system, Control over the activities of banks and other financial institutions.
Stabilization q Stimulating q Retaining q Anti-inflation policy q Monetary policy. q
Administrative and legal q Economic q Straight q Indirect q Are common q Selective. q
Changes in reserve requirements Changes in accounting interest rate (the refinancing rate) Open market operations Targeting Lending limits Controlling for certain types of loans
the policies pursued by the government in the period of economic recession and high unemployment, designed to stimulate aggregate demand, GDP and employment using monetary instruments.
An economic mechanism of action of the Central Bank on aggregate demand gross domestic product by changing the money supply.
less significant administrative lag in comparison with the fiscal policy , more subtle, sophisticated, but flexible mechanism for implementation, less dependence on politics and pressure groups, the positive effect of net exports, more effective in terms of macroeconomic stabilization in the developed market economies.
problem of liquidity trap, braking effect of stabilization policy, deregulation and the effectiveness of monetary policy, cyclical problem of asymmetry, changes in the rate of turnover of money, Investment effect the effect of interest income, inflation problem
The National Bank of Kazakhstan on the basis of the analysis of external and internal factors, as well as in accordance with the tasks assigned to it performs the basic functions: 1. The implementation of the state monetary policy in the Republic of Kazakhstan 2. The implementation of the emission of banknotes and coins in Kazakhstan 3. The implementation of the functions of the bank Banks
4. The implementation of the functions of the bank, financial advisor, an agent of the Government of the Republic of Kazakhstan 5. The operation of payment systems 6. The implementation of currency regulation and currency control in the Republic of Kazakhstan 7. The management of gold assets Nat. Bank of Kazakhstan 8. monitoring and supervision of the fin. organizations.
Thus, monetary policy - one of the most powerful instruments of economic policy at the disposal of the state. The fundamental objective of monetary policy is to help the economy to achieve the overall level of production, characterized by full employment and price stability. Monetary policy is to change the money supply in order to stabilize the total volume of production (stable growth), employment and price levels.
References 1. 2. 3. 4. 5. V. Bezrukov, Safronov B. Melnikov B. Assessment of the dynamics of the economy and the forecast for 2007 // The Economist, 2007, № 11 Ignatyev SM On the monetary policy of the Central Bank of the Russian Federation // Money and the credit, 2008, № 5. Kamaev VD economic theory. - M . : humanity. ed. Center VLADOS, 2006. The course of the economy / ed. Raizberg BA - M . : INFRA-M, 2001. Macroeconomics. Theory and practice of Russia / Ed. Hraznova AG, DUMNO NN - M. : KNORUS, 2006.
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