{"id":26986,"date":"2023-12-07T03:16:02","date_gmt":"2023-12-07T03:16:02","guid":{"rendered":"https:\/\/masterskills.org\/blog\/chinh-sach-tien-te-monetary-policy-la-gi-cong-cu-cua-chinh-sach-tien-te.html"},"modified":"2023-12-22T14:39:21","modified_gmt":"2023-12-22T07:39:21","slug":"chinh-sach-tien-te-monetary-policy-la-gi-cong-cu-cua-chinh-sach-tien-te","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/chinh-sach-tien-te-monetary-policy-la-gi-cong-cu-cua-chinh-sach-tien-te.html","title":{"rendered":"Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 (Monetary policy) l\u00e0 g\u00ec? C\u00f4ng c\u1ee5 c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7"},"content":{"rendered":"
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H\u00ecnh minh ho\u1ea1 (Ngu\u1ed3n: fee)<\/p>\n<\/div>\n<\/div>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7<\/font><\/b><\/h2>\n

Kh\u00e1i ni\u1ec7m\u00a0<\/b><\/p>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7<\/b> trong ti\u1ebfng Anh c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 monetary policy.<\/b><\/p>\n

Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 l\u00e0 ch\u00ednh s\u00e1ch s\u1eed d\u1ee5ng c\u00e1c c\u00f4ng c\u1ee5 c\u1ee7a ho\u1ea1t \u0111\u1ed9ng t\u00edn d\u1ee5ng v\u00e0 ngo\u1ea1i h\u1ed1i \u0111\u1ec3 \u1ed5n \u0111\u1ecbnh ti\u1ec1n t\u1ec7, t\u1eeb \u0111\u00f3 \u1ed5n \u0111\u1ecbnh n\u1ec1n kinh t\u1ebf v\u00e0 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng v\u00e0 ph\u00e1t tri\u1ec3n.<\/p>\n

Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u00e0 c\u01a1 quan t\u1ed5 ch\u1ee9c th\u1ef1c hi\u1ec7n c\u00e1c ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7. M\u1ee5c ti\u00eau c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 l\u00e0 \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3, t\u0103ng tr\u01b0\u1edfng GDP, gi\u1ea3m th\u1ea5t nghi\u1ec7p.\u00a0<\/p>\n

V\u00ec ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u00f3 kh\u1ea3 n\u0103ng t\u00e1c \u0111\u1ed9ng v\u00e0o\u00a0th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7, qua \u0111\u00f3 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn t\u1ed5ng c\u1ea7u v\u00e0 s\u1ea3n l\u01b0\u1ee3ng n\u00ean n\u00f3 tr\u1edf th\u00e0nh m\u1ed9t c\u00f4ng c\u1ee5 \u1ed5n \u0111\u1ecbnh kinh t\u1ebf h\u1eefu hi\u1ec7u c\u1ee7a ch\u00ednh ph\u1ee7.<\/p>\n

C\u00f4ng c\u1ee5 c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7<\/font><\/b><\/h3>\n

C\u00f4ng c\u1ee5 c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 bao g\u1ed3m c\u00e1c c\u00f4ng c\u1ee5 ch\u1ee7 y\u1ebfu \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c cung ti\u1ec1n nh\u01b0: t\u1ec9 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c, nghi\u1ec7p v\u1ee5 th\u1ecb tr\u01b0\u1eddng m\u1edf v\u00e0 l\u00e3i su\u1ea5t cho vay t\u00e1i chi\u1ebft kh\u1ea5u.\u00a0<\/p>\n

C\u00e1c c\u00f4ng c\u1ee5 ch\u00ednh s\u00e1ch n\u00e0y s\u1ebd t\u00e1c \u0111\u1ed9ng v\u00e0o cung ti\u1ec1n v\u00e0 l\u00e3i su\u1ea5t, r\u1ed3i nh\u1edd \u1ea3nh h\u01b0\u1edfng c\u1ee7a l\u00e3i su\u1ea5t \u0111\u1ebfn \u0111\u1ea7u t\u01b0 m\u00e0 t\u00e1c \u0111\u1ed9ng v\u00e0o t\u1ed5ng c\u1ea7u, t\u1eeb \u0111\u00f3 \u0111\u01b0a n\u1ec1n kinh t\u1ebf v\u1ec1 tr\u1ea1ng th\u00e1i c\u00e2n b\u1eb1ng. Trong \u0111\u00f3:<\/p>\n

– T\u1ec9 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c <\/b>l\u00e0 t\u1ec9 l\u1ec7 l\u01b0\u1ee3ng ti\u1ec1n c\u1ea7n ph\u1ea3i d\u1ef1 tr\u1eef so v\u1edbi t\u1ed5ng s\u1ed1 ti\u1ec1n huy \u0111\u1ed9ng. \u0110\u00f3 l\u00e0 t\u1ec9 l\u1ec7 m\u00e0 Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng y\u00eau c\u1ea7u c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i ph\u1ea3i b\u1ea3o \u0111\u1ea3m.\u00a0<\/p>\n

Khi t\u1ec9 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c thay \u0111\u1ed5i th\u00ec cung ti\u1ec1n s\u1ebd thay \u0111\u1ed5i. Tr\u01b0\u1eddng h\u1ee3p t\u1ec9 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c t\u0103ng, cung ti\u1ec1n s\u1ebd gi\u1ea3m. Do \u0111\u00f3, b\u1eb1ng c\u00e1ch thay \u0111\u1ed5i t\u1ec9 l\u1ec7 d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c, Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 \u0111i\u1ec1u ti\u1ebft \u0111\u01b0\u1ee3c cung ti\u1ec1n.<\/p>\n

– L\u00e3i su\u1ea5t cho vay t\u00e1i chi\u1ebft kh\u1ea5u<\/b> l\u00e0 l\u00e3i su\u1ea5t m\u00e0 Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng cho c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i vay \u0111\u1ec3 \u0111\u00e1p \u1ee9ng nh\u1eefng nhu c\u1ea7u ti\u1ec1n m\u1eb7t b\u1ea5t th\u01b0\u1eddng c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng n\u00e0y.\u00a0<\/p>\n

Khi l\u00e3i su\u1ea5t t\u00e1i chi\u1ebft kh\u1ea5u cao, c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i th\u1ea5y r\u1eb1ng vi\u1ec7c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i d\u1ef1 tr\u1eef ti\u1ec1n m\u1eb7t qu\u00e1 \u00edt \u0111\u1ec3 \u0111\u00e1p \u1ee9ng nhu c\u1ea7u r\u00fat ti\u1ec1n b\u1ea5t th\u01b0\u1eddng c\u1ee7a kh\u00e1ch h\u00e0ng s\u1ebd khi\u1ebfn nh\u1eefng ng\u00e2n h\u00e0ng n\u00e0y ph\u1ea3i tr\u1ea3 l\u00e3i su\u1ea5t cao khi ph\u1ea3i vay Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng trong tr\u01b0\u1eddng h\u1ee3p thi\u1ebfu d\u1ef1 tr\u1eef.\u00a0<\/p>\n

\u0110i\u1ec1u \u1ea5y s\u1ebd khi\u1ebfn ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i ph\u1ea3i d\u00e8 ch\u1eebng v\u00e0 t\u1ef1 nguy\u1ec7n d\u1ef1 tr\u1eef nhi\u1ec1u h\u01a1n. \u0110i\u1ec1u n\u00e0y c\u0169ng s\u1ebd gi\u00fap l\u00e0m gi\u1ea3m cung ti\u1ec1n.<\/p>\n

– Nghi\u1ec7p v\u1ee5 th\u1ecb tr\u01b0\u1eddng m\u1edf:<\/b>\u00a0Nghi\u1ec7p v\u1ee5 th\u1ecb tr\u01b0\u1eddng m\u1edf ho\u1ea1t \u0111\u1ed9ng khi Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng mua v\u00e0o ho\u1eb7c b\u00e1n ra c\u00e1c ch\u1ee9ng kho\u00e1n t\u00e0i ch\u00ednh tr\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edf.\u00a0<\/p>\n

V\u00ed d\u1ee5, n\u1ebfu ng\u00e2n h\u00e0ng in th\u00eam m\u1ed9t tri\u1ec7u \u0111\u1ed3ng v\u00e0 d\u00f9ng ch\u00fang \u0111\u1ec3 mua c\u00e1c tr\u00e1i phi\u1ebfu c\u1ee7a ch\u00ednh ph\u1ee7 tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u1ef1 do. Nh\u01b0 v\u1eady, c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i v\u00e0 t\u01b0 nh\u00e2n b\u1ecb m\u1ea5t \u0111i l\u01b0\u1ee3ng ch\u1ee9ng kho\u00e1n tr\u1ecb gi\u00e1 m\u1ed9t tri\u1ec7u \u0111\u1ed3ng nh\u01b0ng \u0111\u1ed5i l\u1ea1i, h\u1ecd c\u00f3 th\u00eam m\u1ed9t tri\u1ec7u \u0111\u1ed3ng ti\u1ec1n m\u1eb7t, \u0111i\u1ec1u \u0111\u00f3 l\u00e0m cung ti\u1ec1n t\u0103ng.\u00a0<\/p>\n

Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng b\u00e1n ra m\u1ed9t tri\u1ec7u \u0111\u1ed3ng tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 th\u00ec qui tr\u00ecnh s\u1ebd \u0111\u1ea3o ng\u01b0\u1ee3c v\u00e0 cung ti\u1ec1n s\u1ebd gi\u1ea3m.<\/p>\n

H\u1ea1n ch\u1ebf c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7<\/font><\/b><\/h3>\n

– Khi \u0111\u1ea7u t\u01b0 t\u01b0 nh\u00e2n kh\u00f4ng nh\u1ea1y c\u1ea3m v\u1edbi l\u00e3i su\u1ea5t th\u00ec hi\u1ec7u l\u1ef1c c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 s\u1ebd th\u1ea5p. Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 \u0111i\u1ec1u ch\u1ec9nh m\u1ee9c cung ti\u1ec1n, qua \u0111\u00f3 \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t v\u00e0 \u0111i\u1ec1u ti\u1ebft \u0111\u1ea7u t\u01b0 t\u01b0 nh\u00e2n, gi\u00e1n ti\u1ebfp t\u00e1c \u0111\u1ed9ng v\u1edbi t\u1ed5ng c\u1ea7u, \u0111i\u1ec1u ti\u1ebft kinh t\u1ebf v\u0129 m\u00f4.\u00a0<\/p>\n

H\u01a1n n\u1eefa, khi l\u00e3i su\u1ea5t t\u0103ng, chi ph\u00ed (v\u1ed1n) \u0111\u1ea7u v\u00e0o c\u1ee7a doanh nghi\u1ec7p t\u0103ng l\u00ean, khi\u1ebfn cho gi\u00e1 h\u00e0ng ho\u00e1 \u0111\u1ea7u ra ti\u1ebfp t\u1ee5c t\u0103ng cao, l\u1ea1m ph\u00e1t kh\u00f4ng \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t. V\u00ec v\u1eady ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 s\u1ebd k\u00e9m hi\u1ec7u qu\u1ea3.<\/p>\n

– Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 s\u1ebd k\u00e9m hi\u1ec7u qu\u1ea3 n\u1ebfu ch\u00ednh ph\u1ee7 kh\u00f4ng cam k\u1ebft ki\u1ec3m so\u00e1t vi\u1ec7c in th\u00eam ti\u1ec1n.\u00a0<\/p>\n

Khi ch\u00ednh ph\u1ee7 mu\u1ed1n ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t b\u1eb1ng vi\u1ec7c s\u1eed d\u1ee5ng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t. L\u00fac n\u00e0y tr\u01b0\u1edbc \u00e1p l\u1ef1c b\u00f9 \u0111\u1eafp th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch, ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 in th\u00eam ti\u1ec1n. \u0110i\u1ec1u \u0111\u00f3 s\u1ebd g\u00e2y t\u00e1c \u0111\u1ed9ng ng\u01b0\u1ee3c chi\u1ec1u v\u1edbi ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u1eaft ch\u1eb7t.<\/p>\n

– Vi\u1ec7c s\u1eed d\u1ee5ng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 m\u1edf r\u1ed9ng c\u00f3 th\u1ec3 khi\u1ebfn l\u00e3i su\u1ea5t xu\u1ed1ng qu\u00e1 th\u1ea5p, khi\u1ebfn cho c\u00e1c c\u00e1 nh\u00e2n kh\u00f4ng mu\u1ed1n g\u1eedi ti\u1ec1n v\u00e0o ng\u00e2n h\u00e0ng v\u00e0 quy\u1ebft \u0111\u1ecbnh n\u1eafm gi\u1eef ti\u1ec1n m\u1eb7t.\u00a0<\/p>\n

L\u00fac n\u00e0y, h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i s\u1ebd thi\u1ebfu v\u1ed1n cho vay khi\u1ebfn cho \u0111\u1ea7u t\u01b0 t\u01b0 nh\u00e2n kh\u00f4ng th\u1ec3 m\u1edf r\u1ed9ng, l\u00e0m gi\u1ea3m hi\u1ec7u qu\u1ea3 c\u1ee7a ch\u00ednh s\u00e1ch.<\/p>\n

\u00a0(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Kinh t\u1ebf C\u00f4ng c\u1ed9ng, 2012, NXB \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf Qu\u1ed1c d\u00e2n)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 (ti\u1ebfng Anh: Monetary policy) l\u00e0 m\u1ed9t trong nh\u1eefng ch\u00ednh s\u00e1ch kinh t\u1ebf c\u01a1 b\u1ea3n c\u1ee7a ch\u00ednh ph\u1ee7. L\u00e0 ch\u00ednh s\u00e1ch hi\u1ec7u qu\u1ea3 \u0111\u1ec3 ki\u1ec3m so\u00e1t m\u1ee9c cung ti\u1ec1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[414],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/26986"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=26986"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/26986\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=26986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=26986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=26986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}