Механизмът на лихвените проценти и кризата
The Mechanism of Interest Rates and the Crisis

Summary/Abstract: The formation of interest rates processes in the country in terms of economic crisis and the impact of the currency board on them are examined. The approach is systematic and is based on the concepts of game theory and their strategic interaction. Information from official banking statistics and normative acts is quoted and analyzed. It is proceeded by the circumstance that the interest rates mechanism today is the source of great number of risks influencing on the economic security of the country and the organizations. It is proved why under the present conditions it is impossible to influence significantly the lowering of interest rates by pressure of state authorities, Bulgarian national Bank (BNB) and street protests. The necessity to gradually increase the role of the BNB as a "player" on the money market is argued through more active monetary and thence an interest rate policy even before the country joins the Eurocurrency zone. Formulations for elaborating the conception necessary for that concept are revealed.

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