Pénzpolitikát

Pénzpolitikát, often translated as monetary policy, refers to the actions undertaken by a central bank to manipulate the money supply and credit conditions to stimulate or restrain economic activity. The primary goals of monetary policy typically include maintaining price stability, fostering full employment, and promoting moderate long-term interest rates. Central banks achieve these objectives through various tools.

One key tool is adjusting interest rates. By raising interest rates, a central bank makes borrowing more expensive, which can cool down an overheating economy and curb inflation. Conversely, lowering interest rates makes borrowing cheaper, encouraging investment and consumption, thereby stimulating economic growth. Another important tool is open market operations, where the central bank buys or sells government securities in the open market. Buying securities injects money into the economy, while selling them withdraws money.

Reserve requirements, the amount of funds banks must hold in reserve against deposits, also play a role. Increasing reserve requirements limits the amount of money banks can lend, while decreasing them has the opposite effect. The effectiveness of pénzpolitikát can be influenced by various factors, including the state of the economy, consumer and business confidence, and the global economic environment. Central banks must carefully consider these factors when formulating and implementing their monetary policy decisions.