Peringanan kuantitatif: Perbezaan antara semakan

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'''Peringanan kuantitatif''' ({{lang-en|Quantitative easing}}; '''QE''') merupakan sejenis [[dasar kewangan]] luar biasa yang digunakan oleh [[bank pusat]] untuk merangsang ekonomi negara apabila dasar kewangan biasa tidak berkesan.<ref>{{cite news| url=http://www.economist.com/node/14649284 | work=The Economist | title=Loose thinking | date=15 October 2009}}</ref><ref>[http://www.bankofengland.co.uk/publications/events/QEConference/index.htm Publications | Learning the Lessons from QE and Other Unconventional Monetary Policies: 17–18 November]. Bank of England (18 November 2011).</ref> Bank pusat melaksanakan peringanan kuantitatif dengan membeli [[aset kewangan]] dari [[bank|bank perdagangan]] dan lain-lain institusi swasta untuk menyuntikkan ''sejumlah'' wang yang ditetapkan terlebih dahulu ke dalam ekonomi. Ini berbeza dengan dasar kewangan biasa menjual beli [[bon kerajaan]] untuk mengekalkan kadar faedah pasaran pada nilai sasaran yang ditetapkan.<ref name="BOE QE Explained (pdf)">{{cite book|title=Quantitative Easing Explained |year=2011 |publisher=[[Bank of England]] |location=London |quote=The MPC's decision to inject money directly into the economy does not involve printing more banknotes. Instead, the Bank buys assets from private sector institutions – that could be insurance companies, pension funds, banks or non-financial firms – and credits the seller's bank account. |url=http://www.bankofengland.co.uk/monetarypolicy/pdf/qe-pamphlet.pdf}}</ref><ref>{{cite web |title=Quantitative Easing|url=http://www.bankofengland.co.uk/publications/quarterlybulletin/qb090201.pdf |publisher=[[Bank of England]]|quote=The Bank can create new money electronically by increasing the balance on a reserve account. So when the Bank purchases an asset from a bank, for example, it simply credits that bank's reserve account with the additional funds. This generates an expansion in the supply of central bank money}}</ref><ref name="bbcnews"/><ref name="BOE QE Explained (web)">{{cite web |title=Quantitative Easing Explained |url=http://www.bankofengland.co.uk/monetarypolicy/assetpurchases.htm |publisher=[[Bank of England]]|quote=This does not involve printing more banknotes. Instead the Bank pays for these assets by creating money electronically and crediting the accounts of the companies it bought the assets from.}}</ref> Peringanan kuantitatif meningkatkan [[rizab lebihan]] bank, serta menaikkan harga aset kewangan yang dibeli yang mengurangkan [[Hasil (kewangan)|hasil]]nya.<ref name="guardiannews">{{cite news |title=Guardian Business Glossary: Quantitative Easing |url=http://www.guardian.co.uk/business/2008/oct/14/businessglossary |work=The Guardian |accessdate=19 January 2009 | location=London | first=Larry | last=Elliott | date=8 January 2009}}</ref>
 
[[Dasar kewangan berkembang]] biasanya melibatkan bank pusat yang membeli bon kerajaan jangka singkat untuk mengurangkan kadar faedah pasaran jangka pendek.<ref>[http://www.auburn.edu/~johnspm/gloss/open_market_operations Open market operations: A Glossary of Political Economy Terms – Dr. Paul M. Johnson]. Auburn.edu.</ref><ref name="omofed">[http://www.newyorkfed.org/aboutthefed/fedpoint/fed32.html Open Market Operation – Fedpoints]. Federal Reserve Bank of New York.</ref><ref>[http://www.snb.ch/en/iabout/monpol/id/monpol_instr Monetary policy Instruments]. Swiss National Bank.</ref><ref name="omoecb">{{cite book|title=The implementation of monetary policy in the euro area|year=2008|publisher=European Central Bank|pages=14–19}}</ref> Bagaimanapun, apabila kadar faedah jangka singkat berada pada atau hampir dengan takat [[Dasar kadar faedah sifar|sifar]], [[dasar kewangan]] biasa tidak boleh mengurangkan lagi kadar faedah. Oleh itu, peringanan kuantitatif boleh digunakan oleh lembaga kewangan untuk merangsang lagi ekonomi dengan membeli aset yang lebih lama tempoh kematangannya daripada hanya bon kerajaan jangka singkat, dan oleh itu mengurangkan lagi kadar faedah jangka panjang pada [[keluk hasil]].<ref name="Q&A: Quantitative easing">{{cite web|url=http://www.frbsf.org/education/activities/drecon/2010/0310.html|title=Dr. Econ: I noticed that banks have dramatically increased their excess reserve holdings. Is this buildup of reserves related to monetary policy?|date=March 2010|publisher=[[Federal Reserve Bank of San Francisco]]|accessdate=4 April 2011}}</ref><ref name="federalreserve.gov">{{cite web|url=http://www.federalreserve.gov/newsevents/speech/bernanke20090113a.htm|title=The Crisis and the Policy Response|last=Bernanke|first=Ben|date=13 January 2009|publisher=[[Federal Reserve]]|accessdate=4 April 2011}}</ref>