The Comparative Research On Interest Rate Period And Policy Effect Between China And America

The interest rate is the time value of fund, is the price of capital, which is a special production element. The interest rate adjustment influence on macroscopic and microscopic economy critically. Since 70's, great changes have taken place on economical financial situation in the international scope, the international finance crisis, global eruption of SARS, Bird flu spread, the rise in price of petroleum suddenly, etc, the various countries' economy development is seriously shocked by these event. These countries use respectively the corresponding monetary policy and the financial policy to adjust the macroscopic economy, in order to go out the economical trough of wave. Therefore, the interest rate is used repeatedly by the market economy developed western nation, which is used important among tool of the monetary policy, at the same time, the interest rate fluctuation is frequent day by day, the margin of fluctuation expands gradually.USA is the most important and the most developed market economy country in the world, American financial system is one of the most main financial systems in the western nation. The further strengthen of economical globalization tendency causes the internationalization of interest rate, Federal Reserve's each rate adjustment can causes the enormous echo in the academic circles and practical society. Federal Reserve System, as USA Central Bank, it affects the lending cost through the market force by using the interest rate tool, then influence actual economic activity. It is worthy of attaching importance to the skill of formulating and carrying out the interest rate policy to control the macroscopic economical movement aspect.