(CCTV Finance " Tianxia Finance ") The last monetary policy meeting of the Bank of Japan this year has just concluded. After the meeting, it announced that it will make some adjustments to the "ultra-loose monetary policy".
Financial Channel Special Correspondent Li Qianwen: The Bank of Japan announced after its two-day monetary policy meeting that on the one hand, it will continue to maintain short-term interest rates at minus 0.1% and maintain long-term interest rates at around 0 by purchasing long-term government bonds. On the other hand, the Bank of Japan relaxed the acceptable long-term interest rate fluctuation range from plus or minus 0.25% to about plus or minus 0.5%. After the news was announced, the Japanese yen rose sharply on the Tokyo foreign exchange market, rising from 137.39 yen to 1 U.S. dollar to around 133.08 yen.
Super Under the loose monetary policy , in order to lower long-term interest rates, the Bank of Japan purchased a large amount of Japanese government bonds and has become the largest "taker" of Japanese government bonds. The latest data released by the Bank of Japan yesterday showed that as of the end of September this year, the balance of Japanese government bonds was 1,066 trillion yen, of which the Bank of Japan held 536 trillion yen, and the holding ratio exceeded 50% for the first time.
Affected by the depreciation of the yen and rising raw material prices, Japan's core CPI rose by 3.6% year-on-year in October, setting a new high in about 40 years and exceeding the 2% inflation target previously set by the Bank of Japan for the seventh consecutive month. Although rising prices have greatly increased the pressure on Japanese household expenditures, the Bank of Japan believes that the current imported inflation will fall sharply by next year. In order to continue to stably achieve the 2% inflation target, ultra-loose monetary policies still need to be implemented.
According to Japanese media reports on the 17th, the Japanese government has finalized its internal policy and will revise for the first time the joint policy statement announced with the Bank of Japan in 2013. This news yesterday caused the price of Japanese government bonds to fall and the yield to rise. Among them, the yield of newly issued 5-year government bonds rose to a high in 7 years and 10 months. Although the Chief Cabinet Secretary yesterday denied reports of revising the policy statement, some market analysts pointed out that with the current Bank of Japan Governor Haruhiko Kuroda stepping down in April next year, the ultra-loose monetary policy is likely to change.
Please indicate CCTV Finance
(Editor Sun Yonghui)
when reprinting
