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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
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| Paper Title: | RESEARCH OF THE MONETARY POLICY DEPOSIT CHANNEL |
| Authors Name: | Serhii Savluk , Nataia Shulga |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_186609
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| Published Paper Id: | IJRTI2305097 |
| Published In: | Volume 8 Issue 5, May-2023 |
| DOI: | http://doi.one/10.1729/Journal.35093 |
| Abstract: | In this publication attention is focused on the study of the first chain of the monetary transmission mechanism interest channel functioning – the impact of the discount (key) rate of a central bank on the deposit policy of commercial banks. Deposit policy is defined as a separate channel of the monetary policy from credit channel. On the basis of autoregression analysis of monthly data for 8,5 years on the banking system of Ukraine, a significant impact of the discount rate changes on banks’ deposit rates with a lag of 2-4 months has been revealed. Notable and immediate reaction of the banks’ deposit rates to a change of the discount rate is observed during periods of its slow growth, when disinflationary monetary policy is exercised. However, sensitivity of deposit rates is lost when the discount rate is sharply increased during periods of restrictive monetary policy. On the basis of the VAR analysis, it was defined that the essential reason for such case is the excessive liquidity of the banking system. The article provides certain proposals for reducing the impact of this factor within the framework of the monetary policy restrictive model implementation. |
| Keywords: | discount rate, deposit channel of monetary policy, deposit rates, excess liquidity |
| Cite Article: | "RESEARCH OF THE MONETARY POLICY DEPOSIT CHANNEL", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.8, Issue 5, page no.623 - 626, May-2023, Available :http://www.ijrti.org/papers/IJRTI2305097.pdf |
| Downloads: | 000205260 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2305097
Registration ID:186609
Published In: Volume 8 Issue 5, May-2023
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.35093
Page No: 623 - 626 Country: Kiyv, Kiyv, Ukraine Research Area: Other Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2305097 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2305097 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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