货币政策如何扩大内需

Group 1 - The core argument is that monetary policy can expand domestic demand by changing the interaction behaviors of countless micro-individuals, focusing on altering market expectations and ensuring that businesses and residents can calculate their benefits [2][9][16] - The effectiveness of monetary policy relies on the central bank's commitment to a clear inflation target and significantly lowering policy interest rates to stimulate investment and consumption [2][10][16] - Historical examples, such as the actions taken by the Federal Reserve during the 2008 financial crisis and the Bank of Japan under Kuroda, illustrate how aggressive monetary policies can lead to economic recovery and increased consumer confidence [4][6][7][16] Group 2 - In China, the economy faces challenges of insufficient demand, with private fixed asset investment experiencing negative growth for the first time since 2005, indicating a lack of confidence among businesses and consumers [13][14] - The low return on assets (ROA) for listed companies and the minimal difference between ROA and long-term financing rates suggest that investment attractiveness is currently very low, impacting private investment decisions [15] - The current housing market dynamics show that despite low mortgage rates, the negative growth in housing prices makes buying less attractive compared to renting, which puts downward pressure on property prices [15][16]