The federal reserve to raise interest rates affect the
The United StatesEastern time on Wednesday night), the federal reserve announced that would improve the federal funds rate by 25 basis points, the target for the federal funds rate will remain between 0.25% and 0.50%.
The federal reserveannouncedIncreases in interest rates, is the United States since June 2006 officially open cycle, as a starting point, the fed will be gradual pace continues to raise interest rates.As is known to all, in the recent 10 years, the United States suffered from the thirties of the last century since the financial crisis is most severe of a new round of financial crisis, the crisis also extends to most countries and regions around the world, even if is like ChinaEmerging marketsEconomic country, also affected.The United States itself into crisis, the most obvious is the weak market demand, the employment rate drop.To cope with the crisis, the United States from the bush administration began to pushThe dollarEasing, and continue toPresident barack ObamaThe first term as President, continuing dollar depreciation.The dollar is the world's reserve currency, the dollar's decline is, in fact, the crisis on to the other countries, increased the difficulty of the world economic recovery.
And the federal reserve to raise interest rates, which indicates that the U.S. economy has come out of the financial crisis, a full recovery.dataShow that, since September, the U.S. unemployment rate from 5.1% to 5.0%, core inflation rate rose to 2% last month;Wage inflation at 2.5% a month, to the highest level after the crisis.Domestic economic conditions improve, the biggest concerns is the fed raising interest rates.Due to the special position in the global market, the positive effects of dollar rate is not only reflected in the home, also will push much damage in the crisis of global economic order toward normalization.Dollar rate to the dollar, but also to foreign exchange reserves value appreciation from country to country.As for China, in November this year as much as $3.4383 trillion in foreign exchange reserves, mostly the dollar, after the dollar rate produced by the positive effect is self-evident.
Dollar interest rates will also be conducive to its trade relations with countries around the world to go back to before the financial crisis of normalization.With the decline of U.S. monetary easing period, countries around the world for currency appreciation, in our countryThe yuanHave appeared in the last years of appreciation, resulting in China's export enterprises suffered huge difficulty, the weakening of China's foreign trade growth, even in this year fell, one factor is the appreciation of the renminbi under channel, export enterprises could not operate normally.Dollar interest rates, China's export enterprises can reduce the exchange risk to the foreign trade, products are exported to profitable, so as to produce positive effect on China's economic steady growth.
Dollars, of course, raising interest rates to attract international capital to strengthen the U.S. market, will lead to the international capital flow reversal, is not conducive to the emerging market of the country's economic recovery.In long-term reform and opening up, China's economic growth has created a important
characteristic, is has strong dependence on the international capital to enter.After the financial crisis, the currency due to the continued appreciation of the international capital had a great appeal.But since this year, the renminbi has been continuing decline, the dollar interest rates could exacerbate depreciation, so as to promote international capital to accelerate out of China, this situation is not conducive to China's economic transformation.At present, China is accelerating economic transition, the thirst for international capital is not reduced, heavy debt pressure again on the other hand, the international capital's exit will add to the pressure, increase the difficulty of China's economic transformation.
The dollar moves to raise interest rates since September this year, has been done, after the continuation of a quarter will become reality.In the more than three months, the domestic public opinion more than $will raise interest rates as a major negative, even assert that China's economy will speed up dip.The judge clearly unsubstantiated, there are always two sides to any economic phenomenon, we don't need to exaggerate the dollar interest rates negative effect and ignore it contains positive factors.As for the dollar rate to the negative role in our country, in the final analysis lies in the unreasonable economic structure in our country, makes the domestic economy by the international factors contain too much.Based on the reality that China should be based on domestic, to speed up the reform, reduce the shock and impact of international factors on the domestic market.