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Re: Discussion #4

In: Business and Management

Submitted By zhengda91
Words 1029
Pages 5
Introduction
In recent years, the People’s Bank of China (PBC) has carried out monetary policy by means of reserve requirement frequently in an effort to hedge the excess liquidity in the banking system. Since the Chinese banking system contributes the most to the financial system in China, and risks exhibited by commercial banks are the biggest threat to the nation’s financial stability. The impact of monetary policy on bank risk is thus an essential issue to which should be paid great attention when establishing its macro prudential management framework. Unlike other economies in which standard one-instrument operating procedure dominates the monetary policy tools, People’s Bank of China makes a frequent adjustment on the interest rate and the reserve requirement ratio simultaneously to achieve its goals.
In China, interest rates and deposit reserve decisions are taken by The Peoples' Bank of China Monetary Policy Committee. The PBOC administers two different benchmark interest rates: one year lending and one-year deposit rate. At present, China has become one of the highest reserve requirement rate country in global countries, for its reserve rate has already reached to 18.5%. In addition, the high consecutive frequency and accumulative range of the raise has been rare in the history of world monetary policy.
In this paper, I will focus three main changes during 2008 to 2015, which are 2008, 2012 and 2015. By giving a brief information about those three interest rates and reserve requirements, I will also do researches about what caused the changes and how it affect the monetary market. Also I will give a future predict about the interest rates and deposits of China.
2
I: The brief information of Reserve Requirement and Interest Rates of China Since 2008
Western central banks rarely alter the reserve requirements because it would cause immediate liquidity

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