چكيده به لاتين
One of the problems that has always been a major challenge for policy makers in our country is the question of the rate of interest on the bank. The bank interest rate, based on what is announced by the Central Bank of the Islamic Republic of Iran, affects other financial markets, especially the stock market. When the central bank boosts bank interest rates, this does not have an immediate effect on the stock market. Instead, it has a direct impact on banks to borrow from the central bank. The first indirect effect of raising interest rates is that banks increase interest rates for customers. In recent years, the Iranian banking system has always experienced high interest rates, which, in the long run, has had a negative impact on the financial market, directly and indirectly.
In this research, the effect of lower interest rates on financial markets has been examined. Based on this, three different scenarios have been developed, in which the effect of reducing the bank interest rate on the development of the stock market as part of the financial market, the effect of lowering the banking rate on the equilibrium of other similar financial markets, and finally the impact of financial market development on macroeconomic variables, Reviewed and interpreted. Given the comprehensiveness of these effects and their simultaneous review, in order to analyze these relationships, we need a general equilibrium model. One of the general equilibrium models that is capable of predicting and analyzing risk in financial markets is the generally computable financial balance. This model can examine the effects of many variables simultaneously on each other. The results of this study, based on the scenarios presented in this model, show that the decline in the interest rate of the bank leads to the development of the financial market. Also, in some cases, markets are out of balance and enter a new level. In addition, due to improved investment conditions in the stock market, and as a result of the crediting required by enterprises, some macroeconomic variables such as different sectors of production will experience significant growth.
