Noble International Journal of Economics and Financial Research


Online ISSN: 2519-9730 | Print ISSN: 2523-0565

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    Volume 5 Number 12 December 2020

THE IMPACT OF MONETARY POLICY SHOCKS ON BANK INTEREST RATES WITH THE SVAR APPROACH

Pages: 136-143
Authors: Arash Ketabforoush Badri
Abstract
Monetary policy includes the process of preparing, announcing and implementing a plan of action taken by the central bank, the foreign exchange board and other credible judicial authorities of a country, which determines the scope and main impact of economic factors operating in that country. Monetary policy shocks are among the factors that can affect a variety of factors. One of the areas that can be important to address these shocks is the issue of bank interest rates. In this study, using the self-explanatory model of structural vector, the effect of monetary policy shocks on the bank interest rate in the banking system in Iran in the period 2008 to 2017 was studied quarterly. The results showed that, liquidity was able to explain 4.13% of interest rate changes. The exchange rate in this period will explain 11.49% of interest rate changes. Payment facilities in the tenth period have explained 69.57% of interest rate changes. In the tenth period, 14.79% of interest rate changes are explained by interest rates.

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