Traditional Culture Encyclopedia - Traditional stories - What is a non-traditional monetary policy tool? Why didn't I have an accurate definition when I searched on Baidu ... Ask the master for advice!
What is a non-traditional monetary policy tool? Why didn't I have an accurate definition when I searched on Baidu ... Ask the master for advice!
the so-called non-traditional monetary policy refers to the unconventional monetary policy operation aimed at correcting the market interest rate expectation and restoring the monetary policy transmission mechanism when the traditional monetary policy interest rate transmission mechanism is blocked, the monetary policy is ineffective and the economic growth is facing a long-term depression. It usually has the following basic characteristics: First, the policy commitment to maintain low interest rates under certain conditions; Second, the injection of super-large-scale base money; Third, direct participation in long-term credit and asset markets. In the implementation of non-traditional monetary policy, almost all countries are the integration of the above three kinds of tools, but the key tools in each country are different and the focus of tools is also changing dynamically.
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