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Business Democratic Essay

664 words - 3 pages

It cannot be denied that from past to now the economic world has suffered a lot of crises such as the East Asian financial crisis in 1997, the 2000s energy crisis and especially the global financial crisis in 2008 which had a significant impact on the world economy until now. Generally, the financial recession of 2007-2008 damaged whole economy of the world and caused the steady rise in unemployment rate. Thus, people lost the confidence on saving and spending which lead to the reduction of money supply. As a result, the government had to reduce the interest rate to encourage people saving. However, the rate of interest below 0% was not good for the economy therefore the Central Bank decided ...view middle of the document...

Finally, the inflation target could be achieved at 2% as a result of rising in money supply in the economy

On the other hand, quantitative easing policy does not only have advantages but also disadvantages. This type of monetary policy could push the inflation rate become higher than the target. The main reason is that the wealth of consumer was better, which could lead to the competition between firms on the market. Therefore, competitive market will lead to the increase in price of goods to maximize profit. As a result, the rate of inflation goes up because of rising in price and money supply. In addition, people could lend more money by the recovery of economy and the increase of money supply. Consequently, lending more will encourage funding debt account, which could be worse. Furthermore, financial institutions could lend people money easier as a result of extra cash from Central Bank, which is very risky for these institutions after crisis period. Besides, the Central Bank cannot guarantee that other financial organization will use money...

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