Bend from at the "new" ruler of foreign exchange market
The National Central Bank has already become the new ruler of foreign exchange market in the world, this has great significance to participant in the market.Although"the flourishing amount of market turns relaxed war" and"newly arisen currency depreciation in the market war" plays more strong more, the central bank abandons a free market doctrine and start influencing the risk of currency market very obvious.In fact central bank while carrying on economy to adjust to control, always may cause at getting rid of 1 surprised result and not ideal of the long term is out of balance of key factor.In spite of turn a relaxed policy(increment currency supply) to still pass a foreign exchange intervention through a quantity bearer in order to keep a low currency value, a risk of key is an inflation pressure enlargement, may cause the emergence of price foam under the most serious circumstance.Meanwhile, for prevent°froming inflation pressure but passing issue/sell the method(namely sample mobility) buying margin storages like sovereignty bond,etc, generally will cause finance expenses' happening to central bank because of the expectation interest of bond sold or the interest that the stock certificate pays published.At the same time because of for the sake of stimulate economy growth and keep an exchange rate depreciation, meet to face to excessively promote to export a direction type way for increasing, cause outward country demanding dependence, this may also produce disadvantageous result to economic structures.This may cause the economy is out of balance and womens sunglassesobstruct the growth and development of local economy.New order in the exchange rate world and among them the power games had better represent, nothing is better than at Brazil government.Brazil government declares no longer recently the impersonation"the role of fool" and indulges Brazil currency appreciation when the wealthy nation is for winning quota in the market but artificial depreciation currency.Actually, newly arisen market and flourishing market nation to growth of thirst's begging have already caused free floating rate of exchange's almost destroying completely.Most newly arisen market exchange rate typical model's representing is obviously a second Brazil thunder Er, Brazil government continuously the set take charge of measure to get rid of by expecting the excesssive speculation to the Brazil thunder second Er property.Each central bank of Asia is in the world financial crisis the front have been the hasty vanguard that strongly interferes a currency market.Because the domestic increases increment and inflation pressure of composition be repressed, parts of central banks adopt the policy mindset of appropriate appreciation.But last year the talks of 11 country president Obama and Chinese premier Wen Jia Baos of Yueh-mei behind, China caused the bargain Jia of extoling Reminbi appreciation in the huge change of Reminbi"vivid" however.Though linger in the ears to the language of expression of enlargement Reminbi"vivid"(extension the day undulate zone), follow-up activity rare.Because other Asia nations obviously worry to compare with China of competition ability, the central banks start choosing to control an exchange rate. For ten big flourishing economies, the currency market has been being placed in to control status as well, the most obvious is a Rui Lang, because Switzerland central bank performance fixs an exchange rate in fact.(the euro exchanges Rui Lang maintenance is in 1.20 levels)The exchange rate of four big flourishing economies is also more andcheap sun glasses more subjected to central bank behavior of or so.Pass by three in the last yearses, the appreciation of the yen has already caused many interventions(but all finally didn't succeed) of Japanese central bank, but February Japanese central bank purchase an its property plan to increase 10 yens and raise to 65 yens, set 1% inflation targets at the same time and let the market tumble glasses.Meanwhile, British and American two countrieses one connects an amount of round to turn relaxed cause interest rate market almost the great waves isn't cheerful, conveniently repressed the motion of currency market. Only increase a driving force in the tradition regression again, the central bank would again retreat to fill the vacancy a seat and no longer predominate foreign exchange market when the central bank removes to depend on interest rate, exchange rate policy to stimulate the bad habit of economic growth
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