The Bank of Japan to maintain interest rates unchanged by the introduction of new qqe- Sohu financia headache怎么读�

The Bank of Japan to maintain interest rates unchanged by introducing new QQE- Sohu financing bank of Japan announced this month the monetary policy decision to keep interest rates unchanged, but said that in order to achieve the inflation target, decided to introduce the "yield curve with QQE control policy". The Bank of Japan said that the new QQE policy is mainly composed of two parts — the yield curve adjustment and control, the short end of the long end of the interest rate, will continue to buy Japanese government bonds until the 10 period bond yields to 0; inflation overshoot commitment, commitment to expand the monetary base level until CPI beyond the 2% target, and stable at 2% above. Japan’s central bank to vote on the results of the 7:2 through asset purchase guidelines, and the results of the 8:1 vote through inflation commitments. The Bank of Japan’s current policy tools:   in the resolution before the announcement, according to media reports, several options for the Treasury yield curve steepening in the study of the Bank of Japan, in order to reduce the short-term and medium-term bond yields, and push up long-term bond yields from the low level. The reason for this is that the short-term bond yields have the greatest impact on corporate borrowing costs. According to the Bank of Japan’s control of the yield curve, Japan Norinchukin Research Institute chief economist Takeshi Minami believes that the Bank of Japan on a steeper yield curve of the attention, they will show the status of financial institutions into consideration. Bao Bao bank commented that this will be conducive to the banking and insurance industry in japan. Itochu economist Atsushi Takeda believes that today’s resolution that the Bank of Japan’s monetary policy reached the limit. The Bank of Japan also said it would expand the monetary base until the inflation rate of more than 2%, and the introduction of quantitative qualitative easing, additional yield curve control. At the same time decided to amend the policy framework to cancel the average duration of the Japanese government bonds held. The Bank of Japan also said, ETF will buy 2 trillion and 700 billion yen for tracking the Topix index ETF; if necessary to cut interest rates further; under the negative interest rate policy, the interest rate will be lower than the natural rate of interest will strengthen long-term guidelines. In addition, the current annual growth rate of the monetary base has not set a target, the monetary base is still maintained an annual increase of 80 trillion yen unchanged. Monetary base may float in order to achieve yield curve control. The Bank of Japan will be based on the existing rhythm of the purchase of Japanese government bonds, ETF to maintain the purchase price of 5 trillion and 700 billion yen. After the announcement of the resolution, the dollar fell against the yen after the reversal, currently up to 102.29, Japan’s 10 year yield rose to zero for the first time since March. USDJPY trend:  相关的主题文章: