开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

蛋黄也酥酥 · 2022年04月09日

这道题的知识在哪里呢?

* 问题详情,请 查看题干

NO.PZ202105270100000507

问题如下:

Based on Exhibit 1, which country’s central bank is most likely to buy domestic bonds near term to sterilize the impact of money flows on domestic liquidity?

选项:

A.Country A

B.Country B

C.Country C

解释:

B is correct.

Hot money is flowing out of Country B; thus, Country B’s central bank is the most likely to sell foreign currency (thereby draining domestic liquidity) to limit/avoid depreciation of the domestic currency and buy government securities (thereby providing liquidity) to sterilize the impact on bank reserves and interest rates.

A is incorrect because Country A is not experiencing hot money flows and, therefore, would not need to sterilize the impact of money flows on domestic liquidity.

C is incorrect because hot money is flowing into Country C; thus, Country C’s central bank is most likely to sell government securities to limit the growth of bank reserves and/or maintain a target level of interest rates.


热钱正在流出B国;因此,B国央行最有可能出售外币(从而耗尽国内流动性),以限制/避免本国货币贬值,并购买政府证券(从而提供流动性),以冲销对银行准备金和利率的影响。

A是错误的,因为A国没有热钱流动,因此不需要冲销资金流动对国内流动性的影响。

C是错误的,因为热钱正在流入C国;因此,C国央行最有可能出售政府债券,以限制银行储备的增长和/或维持目标利率水平。

这道题的知识在哪里呢?

1 个答案

笛子_品职助教 · 2022年05月21日

嗨,从没放弃的小努力你好:


这个知识点是冲销干预(SterilizedIntervention


冲销干预(SterilizedIntervention)是指中央银行在进行外汇买卖的同时,又通过公开市场操作对国内市场进行反向操作,达到本币供应量不变目的。它是政府管理汇率的重要政策之一,也称冲销政策。


B国的货币正在贬值,B国央行需要采取措施,避免货币贬值。

什么样的措施可以避免贬值(也就是使货币升值),只有在外汇市场抛售外币,买入本币,这样才能使本币升值。

但是抛售外币,买入本币的行为,会使本币流动性减少,因为央行买入本币,本币集中在央行体系内,并没有在市场上流通。

为了抵消流动性减少的影响,央行就需要投放流动性,央行买入债券,可以向市场提供流动性。


一方面买本币,收缩流动性,一方面买债券,提供流动性。这就是冲销干预,既阻止了本币贬值,又使流动性保持不变。

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

18147243134 · 2022年12月02日

这个解释非常正确,谢谢老师。

  • 1

    回答
  • 4

    关注
  • 763

    浏览
相关问题

NO.PZ202105270100000507 问题如下 Baseon Exhibit 1, whicountry’s centrbank is most likely to buy mestic bon neterm to sterilize the impaof money flows on mestic liquity? A.Country B.Country C.Country B is correct. Hot money is flowing out of Country thus, Country B’s centrbank is the most likely to sell foreign curren(thereaining mestic liquity) to limit/avoipreciation of the mestic currenanbuy government securities (thereproving liquity) to sterilize the impaon bank reserves aninterest rates.A is incorrebecause Country A is not experiencing hot money flows an therefore, woulnot neeto sterilize the impaof money flows on mestic liquity.C is incorrebecause hot money is flowing into Country thus, Country C’s centrbank is most likely to sell government securities to limit the growth of bank reserves anor maintain a target level of interest rates. 热钱正在流出B国;因此,B国央行最有可能出售外币(从而耗尽国内流动性),以限制/避免本国货币贬值,并购买政府证券(从而提供流动性),以冲销对银行准备金和利率的影响。A是错误的,因为A国没有热钱流动,因此不需要冲销资金流动对国内流动性的影响。C是错误的,因为热钱正在流入C国;因此,C国央行最有可能出售政府债券,以限制银行储备的增长和/或维持目标利率水平。 看了答案明白了B的逻辑了,但是关于C,我当时是觉得热钱涌入,推高C汇率,只要国内市场人民币多了,汇率就不会那么高,所以选C,这样考虑有什么问题呢,劳烦老师解答,谢谢。

2023-05-21 11:33 1 · 回答

NO.PZ202105270100000507 问题如下 Baseon Exhibit 1, whicountry’s centrbank is most likely to buy mestic bon neterm to sterilize the impaof money flows on mestic liquity? A.Country B.Country C.Country B is correct. Hot money is flowing out of Country thus, Country B’s centrbank is the most likely to sell foreign curren(thereaining mestic liquity) to limit/avoipreciation of the mestic currenanbuy government securities (thereproving liquity) to sterilize the impaon bank reserves aninterest rates.A is incorrebecause Country A is not experiencing hot money flows an therefore, woulnot neeto sterilize the impaof money flows on mestic liquity.C is incorrebecause hot money is flowing into Country thus, Country C’s centrbank is most likely to sell government securities to limit the growth of bank reserves anor maintain a target level of interest rates. 热钱正在流出B国;因此,B国央行最有可能出售外币(从而耗尽国内流动性),以限制/避免本国货币贬值,并购买政府证券(从而提供流动性),以冲销对银行准备金和利率的影响。A是错误的,因为A国没有热钱流动,因此不需要冲销资金流动对国内流动性的影响。C是错误的,因为热钱正在流入C国;因此,C国央行最有可能出售政府债券,以限制银行储备的增长和/或维持目标利率水平。 想问下这个知识点在基础班和强化班有讲过么

2023-05-07 22:36 1 · 回答

NO.PZ202105270100000507 问题如下 Baseon Exhibit 1, whicountry’s centrbank is most likely to buy mestic bon neterm to sterilize the impaof money flows on mestic liquity? A.Country B.Country C.Country B is correct. Hot money is flowing out of Country thus, Country B’s centrbank is the most likely to sell foreign curren(thereaining mestic liquity) to limit/avoipreciation of the mestic currenanbuy government securities (thereproving liquity) to sterilize the impaon bank reserves aninterest rates.A is incorrebecause Country A is not experiencing hot money flows an therefore, woulnot neeto sterilize the impaof money flows on mestic liquity.C is incorrebecause hot money is flowing into Country thus, Country C’s centrbank is most likely to sell government securities to limit the growth of bank reserves anor maintain a target level of interest rates. 热钱正在流出B国;因此,B国央行最有可能出售外币(从而耗尽国内流动性),以限制/避免本国货币贬值,并购买政府证券(从而提供流动性),以冲销对银行准备金和利率的影响。A是错误的,因为A国没有热钱流动,因此不需要冲销资金流动对国内流动性的影响。C是错误的,因为热钱正在流入C国;因此,C国央行最有可能出售政府债券,以限制银行储备的增长和/或维持目标利率水平。 Hot money 具体是啥? 是本币还是外币?

2023-04-26 03:38 1 · 回答

NO.PZ202105270100000507 问题如下 Baseon Exhibit 1, whicountry’s centrbank is most likely to buy mestic bon neterm to sterilize the impaof money flows on mestic liquity? A.Country B.Country C.Country B is correct. Hot money is flowing out of Country thus, Country B’s centrbank is the most likely to sell foreign curren(thereaining mestic liquity) to limit/avoipreciation of the mestic currenanbuy government securities (thereproving liquity) to sterilize the impaon bank reserves aninterest rates.A is incorrebecause Country A is not experiencing hot money flows an therefore, woulnot neeto sterilize the impaof money flows on mestic liquity.C is incorrebecause hot money is flowing into Country thus, Country C’s centrbank is most likely to sell government securities to limit the growth of bank reserves anor maintain a target level of interest rates. 热钱正在流出B国;因此,B国央行最有可能出售外币(从而耗尽国内流动性),以限制/避免本国货币贬值,并购买政府证券(从而提供流动性),以冲销对银行准备金和利率的影响。A是错误的,因为A国没有热钱流动,因此不需要冲销资金流动对国内流动性的影响。C是错误的,因为热钱正在流入C国;因此,C国央行最有可能出售政府债券,以限制银行储备的增长和/或维持目标利率水平。 看了解析,逻辑有点搞不太明白..我的理解热钱流出,说明国外投资者要把钱收回,在市场上把手头的人民币换成美元,市场上人民币变多,RMB贬值。如果这个时候央行再buy mestic bon买债券支付人民币,市场上人民币不就更多了吗?这个理解哪里有问题呢?谢谢

2023-01-06 10:21 3 · 回答