虚假贸易对汇率和央行流动性管理的影响

发布时间：2018-01-22 17:13

本文关键词： 虚假贸易人民币汇率中央银行流动性管理　出处：《征信》2014年08期 　论文类型：期刊论文

【摘要】：在其他条件不发生大的变化的前提下,人民币在未来一段时期内仍然存在小幅度的升值空间,且波动幅度会呈现日益增大的趋势。基于套利、套汇的虚假贸易将导致大量热钱流入,外汇占款上升,基础货币被动投放,致使央行流动性管理效率大打折扣,对金融和经济平稳运行造成影响。因此,银行、外汇管理局等部门应多方联合解决虚假贸易问题,加快人民币汇率形成机制改革进程,采用新策略进一步加强央行流动性管理,降低虚假贸易对汇率和央行流动性的不利影响。
[Abstract]:On the premise of no significant change in other conditions, there is still room for the RMB to appreciate by a small margin in the future period, and the volatility will show an increasing trend. Based on arbitrage. The false trade of arbitrage will lead to a large amount of hot money inflow, foreign exchange accounts for rising, passive base money, causing the central bank liquidity management efficiency greatly reduced, on the smooth operation of the financial and economic impact. Therefore, banks. The foreign exchange administration and other departments should jointly solve the problem of false trade, speed up the reform process of RMB exchange rate formation mechanism, and adopt new strategies to further strengthen the central bank's liquidity management. Reduce the adverse effects of false trade on exchange rates and central bank liquidity.
【作者单位】：中国人民银行郑州培训学院;
【分类号】：F832.52;F832.2
【正文快照】： 大多数中央银行都把维持物价稳定作为流动性管理的最终目标(中国人民银行,2006)[1]。对全球范围内流动性过剩背景下的中国而言,一方面,近年来由经常项目产生的国际收支顺差导致外汇占款被动投放和流动性管理压力持续存在;另一方面,在全球量化宽松货币政策溢出效应的影响下,国

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