Empirical Analysis On The Effect Of Personal Finance Portfolio Facing The Central Bank Raised Interest Rates

From2010October to2011July, facing the inflationary pressure, the central bank hadraised interest rates five times. This had raised the borrowing cost of the commercial banksfrom the central bank, and forced the market interest rates to increase. The areas ofinvestment were all affected, and personal finance also should follow the pace to adjustreasonably. This paper analyzed the personal finance effect of macro monetary policy, andfocused on how the interest increasing influenced the personal finance portfolio. It canoffer advices for investors on reasonable asset allocation and be useful to the financialinstitutions on personal financial products design. The central bank also can know thepersonal finance effect of interest rate adjustment better.On the basis of the research on the personal financial objectives and influencingfactors and the theoretical analysis on the personal financial investment tools effect ofinterest increasing, the questionnaires were carried out and the data were empiricallyanalyzed. First it analyzed on the effect on the return, duration, total amount, structure andrisk of the personal finance portfolio. It indicated the growth of the income and the periodtended to be metaphase. Investors’ total investment amounts tended to increase. The stockwas in high risk. Investors tended to reduce the stock investment, and increase savings andbank financial products. Then it analyzed on different investment portfolios, differentattention levels on interest rate of investors and different income levels of the investors. Itfound that saving, fund and bank financial product portfolio was the best. The moreconcerns on interest rate, the more likely to earn more. Investors with higher income werelikely to be affected more. Finally, it used the fuzzy comprehensive evaluation method toanalyze the comprehensive influence degree of personal finance portfolio by interest increasing. It came to the conclusion that interest increasing had certain effect on personalfinance portfolio.After the theoretical and empirical analysis, it put forward how to arrange the personalfinance portfolio to respond the central bank interest increasing: investors should investmore varieties which were benefit from interest increasing，set up portfolio which canhedge interest rate risk, mix the periods flexibly and pay more attentions to economic andmonetary policy. The research proved that interest increasing could affect personal financeportfolio. Investors should stress on it and adjust the portfolio reasonably.