多国中央银行激进加息情况下如何应对全球金融稳定风险?  

How to Deal with Global Financial Stability Risks in the Event of Aggressive Interest Rate Hikes by Multinational Central Banks?

作　　者：艾德里安·托比亚斯 王宇(译) Adrian Tobias;Wang Yu

机构地区：[1]国际货币基金组织 [2]不详

出　　处：《金融发展研究》2022年第12期35-37,共3页Journal Of Financial Development Research

摘　　要：面对严峻的通货膨胀压力,各国中央银行不断加息,导致全球金融稳定风险正在上升。全球货币政策紧缩背景下,非银行金融部门的金融脆弱性增大,资产价格面临下跌风险;房地产市场风险升级,逐步波及宏观经济;新兴市场和发展中国家外资流入减少,债务风险加大;部分银行资本充足率和流动性缓冲不足,难以应对世界经济金融形势变化;企业部门生产成本上升,破产风险增加。为应对全球金融风险上升和金融脆弱性放大的风险,应加强市场沟通,抑制通货膨胀,适当干预外汇市场,加强国际经济政策协调,并在防控金融风险与避免金融无序收紧之间保持平衡。In the face of severe inflationary pressures, central banks around the world continue to raise interest rates,resulting in rising risks to global financial stability. Under the background of global monetary policy tightening,the financial fragility of non-bank financial sector is increasing and asset prices are facing the risk of falling;risks in the real estate market have escalated,gradually affecting the macro economy;foreign capital inflows to emerging markets and developing countries have decreased and debt risks have increased;some banks had insufficient capital adequacy ratios and liquidity buffers,making it difficult for them to respond to changes in the world economic and financial situation;also,the cost of production in the corporate sector increases and the risk of bankruptcy increases. To cope with the risk of rising global financial risks and the amplification of financial fragility,it is necessary to strengthen market communication,curb inflation,appropriately intervene in the foreign exchange market,strengthen international economic policy coordination,and maintain a balance between preventing and controlling financial risks and avoiding disorderly financial tightening.

关 键 词：通货膨胀 紧缩性货币政策 金融脆弱性 中央银行 

分 类 号：F830[经济管理—金融学]