中央银行公信力的影响因素与通胀治理

Research on Influence Factors of Centre Bank Credibility and Disinflation

本文在分析中央银行公信力内涵的基础上,指出中央银行决策的历史绩效、政策透明度、公众对中央银行职能、形象与政策的认知以及货币政策基础设施的完善性都影响中央银行的公信力,尤其是,认知因素越来越影响人们对公信力的评价;中央银行公信力的高低影响反通货膨胀的成本。因此,中央银行公信力对其治理通货膨胀至关重要,是其履行职责的必要保证,是稳定公众预期的关键。

This paper points out that many factors affects centre bank credibility including monetary policy history,continuity,openness,the public＇s perception and the soundness of financial infrastructure based on the analysis of key parts of centre bank credibility.In particular,perception factors i nfluence the assessment of credibility and centre bank credibility affected the cost of disinflation.So the credibility of centre bank,as a necessary guarantee for fulfilling its mandates and stabilizing the expectation of the public,is very important for controlling inflation.