Vol. 8 No. 4 (2022): FINANCE AND BANKING
Issue Articles

SVAR model of the impact of refinancing interest on market interest rates as well as macroeconomic indicators

PDF (Oʻzbekcha)
  • Akram Absalamov,
  • Kurbonbekova Mohichekhra ,
  • Inogamov Khayot
Akram Absalamov
Banking and Finance Academy of the Republic of Uzbekistan
Bio
Kurbonbekova Mohichekhra
Tashkent State University of Economics
Bio
Inogamov Khayot
Bio

Published 2022-12-29

Keywords

  • monetary policy, inflation, money market, money supply, refinancing policy, credit, deposit, basic interest rate.

How to Cite

Absalamov, A., Kurbonbekova, M., & Inogamov, K. (2022). SVAR model of the impact of refinancing interest on market interest rates as well as macroeconomic indicators. FINANCE AND BANKING, 8(4), 5–14. Retrieved from https://journal.bfa.uz/index.php/bfaj/article/view/68

Abstract

This article presents an empirical analysis of the impact of the refinancing instrument of central banks on the economy. According to the results of the analysis, the influence of the central bank refinancing percentage on the interest rate in the money market, as well as on the percentage of short-term deposits of commercial banks, is becoming noticeable. As we can see from the results of the Model, it was found that the increase in the money supply in circulation strongly affects the interest rate in the money market, as well as the percentage of short-term deposits of commercial banks, as well as the level of inflation.

 

PDF (Oʻzbekcha)

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