The Role of Central Bank Monetary Policy in Controlling Inflation and Exchange Rates

Jajang Herawan; Yadi Janwari; Sofyan Al-Hakim

doi:10.31943/afkarjournal.v7i2.962

Authors

Jajang Herawan STAI Muhammadiyah Garut
Yadi Janwari UIN Sunan Gunung Djati Bandung
Sofyan Al-Hakim UIN Sunan Gunung Djati Bandung

DOI:

https://doi.org/10.31943/afkarjournal.v7i2.962

Keywords:

Monetary Policy, Inflation, Exchange Rate, Central Bank

Abstract

This research explains the role of the central bank as a monetary policy regulator that has the ability to control inflation and the exchange rate. This is proven by the circulation of currency in the economy which reflects changes in the amount of currency in circulation, interest rates, credit, exchange rates, and many other economic and financial variables. The method used in this article uses a qualitative descriptive approach. Descriptive refers to the researcher's efforts to systematically and accurately describe those who study or criticize literature, whether from books, journals or other documents, based on several opinions based on a number of research results from journalists or document critics. The results of the review show that a significant difference in Islamic monetary policy is that Islamic economics does not provide guarantees regarding nominal values, profit margins, or interest rates. Therefore, monetary policy automatically becomes sharia monetary policy, that is, it does not use interest rates as its operational target. The tool used is sharia law.

Downloads

Download data is not yet available.

References

Arianto, Bambang. 2020. “Pengembangan UMKM Digital di Masa Pandemi Covid-19”. ATRABIS: Jurnal Administrasi Bisnis 6, no. 2: 233– 247. Diakses melalui https://www.jurnal.plb.ac.id.

Caroline, Diah A. 2021. “Pengaruh Nilai Tukar Rupiah dan Inflasi Terhadap Cadangan Devisa Periode Tahun 1989-2019”. Jurnal Ecodunamika 4, no. 1. Diakses melalui https://ejournal.uksw.edu.

Fitria, Tira N. 2016. “Kontribusi Ekonomi Islam dalam Pembangunan Ekonomi Nasional”. Jurnal Ilmiah Ekonomi Islam 2, no. 3: 29– 40. Diakses melalui https://jurnal.stie-aas.ac.id.

Grant, Adam M. dan Sharon K. Parker. 2009. “7 Redesigning Work Design Theories: The Rise of Relational and Proactive Perspectives”. Academy of Management Annals 3, no. 1: 317–375. Diakses melalui https://doi.org/10.5465/19416520903047327.

Hidayat, Raden R. dan Sri Sulasmiyati. 2015. Analisis Pengaruh Inflasi, Tingkat Suku Bunga, Nilai Tukar Rupiah, dan Cadangan Devisa Terhadap Penanaman Modal Asing di Indonesia 7.

Isyunanda, Kristianus P. 2020. “Bank Sentral dan Pandemi Covid-19: Quo Vadis? (Central Bank and Covid-19 Pandemic: Quo Vadis?)”. Mimbar Hukum 32, no. 3: 461–483. Diakses melalui https://jurnal.ugm.ac.id.

Janwari, Yadi. 2016. Pemikiran Ekonomi Islam Dari Masa Rasulullah Hingga Masa Kontemporer, Bandung, Risdakarya.

Kezia, C., dkk. 2020. “Analisis Perbedaan Pengaruh Kebijakan Suku Bunga Bank Sentral Terhadap Inflasi di Indonesia”. e-Journal Perdagangan Industri dan Moneter 8, no. 2: 99–112. Diakses melalui https://online-journal.unja.ac.id.

Lestari, Etty P., dkk. 2019. Kebijakan Target Inflasi Sebagai Sasaran Kebijakan Moneter Baru Bank Sentral. Prosiding Seminar Nasional Universitas Terbuka 2014. Diakses http://repository.ut.ac.id.

Marimin, A., dkk. (2015). “Perkembangan Bank Syariah di Indonesia”. Jurnal Ilmiah Ekonomi Islam 1, no. 2: 75–87. Diakses melalui https://www.researchgate.net.

Marzuki, Siti N. 2020. “Konsep Uang dan Kebijakan Moneter dalam Ekonomi Islam”. AL-IQTISHAD: Jurnal Ekonomi 1, no. 2: 201–216. Diakses melalui https://jurnal.iain-bone.ac.id.

Mulyani, R. 2020. “Inflasi dan Cara Mengatasinya dalam Islam”. Lisyabab: Jurnal Studi Islam dan Sosial 1, no. 2: 267–278. Diakses melalui https://lisyabab-staimas.e-journal.id.

Murtadho, Muis. 2016. “Pengaruh Suku Bunga Terhadap Nilai Tukar serta Pengaruhnya Terhadap Indeks Harga Saham (Studi Kasus Indonesia, China, dan Australia)”. E-journal Manajemen KINERJA 2, no. 2. Diakses melalui https://jurnal.narotama.ac.id.

Noviyanto. 2016. “Mengenal The Federal, Bank Sentral Amerika yang Mempengaruhi Dunia”. KoinWorks. Diakses melalui https://koinworks.com.

Nugroho, Helmi. dkk. 2020. Pengaruh Sistem Keuangan dan Kebijakan Moneter Terhadap Pertumbuhan Ekonomi pada Era Orde Baru dalam Perspektif Ekonomi Islam.

Parakkasi, Idris. 2018. “Inflasi dalam Perspektif Islam”. Jurnal Laa Maisyir: Jurnal Ekonomi Islam 4, no. 2. Diakses melalui https://journal.uin-alauddin.ac.id.

Putra, M. Umar M. 2015. “Peran dan Kebijakan Moneter Terhadap Perekonomian SUMATERA UTARA”. Jurnal Wira Ekonomi Mikroskil 5, no. 1: 41–49. Diakses melalui https://www.neliti.com.

Rustandi, Rudi. 2019. Kebijakan Moneter. Sumber Belajar Kementerian Pendidikan dan Kebudayaan. Diakses melalui https://sumber.belajar.kemdikbud.go.id.

Semuel, Hatane. 2003. “Penerapan Total Quality Management Suatu Evaluasi Melalui Karakteristik Kerja (Studi Kasus pada Perusahaan Gula Candi Baru Sidoarjo)”. Jurnal Manajemen dan Kewirausahaan 5, no. 1: 72–85. Diakses melalui https://jurnalmanajemen.petra.ac.id.

Utami, Adya. 2019. “Determinan Jumlah Uang Beredar, Tingkat Bunga, dan Inflasi Terhadap Pertumbuhan Ekonomi Indonesia”. Al-Buhuts 15, no. 2: 45–64. Diakses melalui https://doi.org/10.30603/ab.v15i2.1106.