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 Wysłany: Wto 3:06, 05 Kwi 2011 Temat postu: mbt schoenen Who's misreading hike _323 |
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Who's misreading of interest rates
substantive change, the future of listed companies the market is expected to be stable, the market interest rate adjustments to determine the future prospects for corporate earnings expectations will not change the adjustment should be a major fluctuations. In this sense, the market did not decline motivation . Similarly, the lack of market interest rates and rising due to the basis. First of all, monetary tightening interest rate policy, the role of recovery of mobility, in theory, who is misreading in reducing interest rates of economic macro-control policy on the policy. Secondly, the rate hike will increase the average cost of bank funds, the banks, the direct impact is to bring down the size of loans to reduce interest income. Though the same time increase the deposit and lending rates still remain spread levels change, but the scale of the decline in lending interest rate will bring the total revenue decline. and the interest rate adjustment on the contraction of liquidity will affect the total amount of the money supply, in theory, will also affect the total funds the operation of banks, thereby affecting the size of credit and banking revenues. highly dependent on spread income in the bank's business model is no fundamental change in circumstances, interest rates should be bad news for banks. In addition, banks and promote the full liberalization of interest rates market-oriented background, making the interest rate adjustment signals from the banking industry becomes more complex, in the face of its funds into. t.4t high must also speed up the reform to raise the core competitiveness. In such circumstances, the market shares of investment banks should be closely observation,[link widoczny dla zalogowanych], careful decisions. To sum up,[link widoczny dla zalogowanych], the first trading day after the stock market interest rates rose an unexpected pattern,[link widoczny dla zalogowanych], led by banking stocks even more people to understand, this analysis, we think there are two problems are Important: First, the problem of excess liquidity. The stock market rose and capital to promote blind is closely related to the tightening of liquidity is the original objective of the policy interest rate adjustment, and the market interest rate increase after the first day of the reaction illustrates the need for such tight nature, and thus does not exclude subsequent instruments of monetary policy, including interest rate will be adjusted excess liquidity. Second, the market interest rate policy, especially macroeconomic policies and understanding the absorption of possible errors. Monetary policy is the macroeconomic indicators for the control policy, Its not just for the capital markets. but the capital market over-investment problems. rate adjustment even more so. the interest rate is adjusted for the overall policy of economic indicators, and its impact on the economic situation of the process: First, the price of capital, thereby affecting the investment income, and finally by adjusting the overall macroeconomic impact of the overall scale of investment the level of economic growth. microeconomic entity, including listed companies, is the regulation of money supply on interest rates and the social basis of the average cost of funds, according to their own operating earnings, investment and adjustment costs, determine the interest rate adjusted business objectives. Listing company as part of the economy, price changes as interest rates adjusted for the cost of investment funds, investment behavior, self-adjustment of the scale of investment,[link widoczny dla zalogowanych], the last of the company's operating performance. Listing on the performance of price and dividend payment, and finally affect investment decisions of investors. Through such a process, the interest rate adjustment of an impact on investor behavior, an impact on the capital market. the interest rate adjustment on the market, , will not appear in the next day. If we will adjust interest rates simply interpreted as , investors do not ambiguous, paradoxical, but to the impact of policy on the market mechanism to figure out, so to judge the market will be more aware of, control of investment risk would be more effective adjustment of investment decisions will more answers, which can be as much as possible to avoid the negative impact of the policy,[link widoczny dla zalogowanych], greater use of the positive effect of the policy. In the changing situation in the capital market and macroeconomic environment more closely in the understanding of macroeconomic policies, especially macroeconomic policies impact on the capital market, there should be more in-depth discussion and interpretation. More articles related to topics：
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