Analisis Pengaruh Kebijakan Moneter Kuantitatif Terhadap Tingkat Inflasi di Kota Medan

Abstract

Monetary policy represent policy of monetary authority or central bank in the form of operation of monetary target (amount of money supply, primary money, or banking credit) to reach growth of economics. The wanted economic activity is macro stability of economics for example mirror in price stability (inflation), rill output (growth of economics, and also enough employment broadness). Monetary policy consist of monetary policy of ekspansif that is monetary policy with aim to to push growth of economics through improvement of money supply amount. On the contrary monetary policy of kontraktif that is monetary policy which addressed to slow· down growth of economics which is through reduction of money supply amount. the monetary Policy effectiveness depend on relation between money supply with especial economic variable like inflation and output. Monetary policy require to be instructed to be amount ofmoney supply as according to requirement of economics. In general monetary policy framework consist of instrument, operational target, target between, and also final target. Operational target the utilized is primary money and rate of interest short-range. Target between the used is Ml and ofM2, or rate of interest and credit. Instrument which had by central bank for the influence of operational target consist of Open market operation, reserve requirement (GWM), discount facility and moral of suasion. Operation open market through action of Indonesia bank certificate (SBI), GWM represent the amount of appliance of likuid minimum which is obliged to be looked after by public bank in Indonesia Bank. SBI is monetary instrument indirectly which is conducted by Indonesia Bank to inhale excess of rupiah likuiditas if monetary condition too ekspansif, GWM minimized by hence ability of bank to channel bigger credit. In Indonesia change of GWM adapted for by requirement of money amount circulating . During research range of time can be seen by highest SBI in the year 1998 equal to 54.68% and inflation equal to 47.86%. Last in the year inflation equal to 7.57% and SBI equal to 7.29 %while GWM seldom experience of change