Bank of Japan's starting the discussion about the easy credit policy of the addition in parallel with additional economic measures that the government starts the discussion from the meeting of cabinet ministers charged with economic affairs on the 20th to correspond to the strong yen and the share down, too has understood the 18th.
The financing of the enterprise is backed up, and the expansion of "New operation" (new operation) in which the economic environment underpinning effect is expected is considered highly probable.
The voice with "It is likely to decide it in temporary Monetary Policy Meeting" has been raised before it confers on Prime Minister Naoto Kan and Shirakawa Cata Governor of the Bank of Japan scheduled next week, too.
The idea that increases the dimension of a new operation to which the finance supply of month of three of the period of loan is done by the fixed rate of 0.1% a year that Bank of Japan introduced as an alternative last December from a present 20 trillion yen to 30 trillion yen surfaces. There is a possibility of extending the period in three-six months, too. It is expected that it will aim at the effect to which the interest rate is lowered further by increasing the capital of the money market that raises the capital while it is short within one year.
Yen comes to be sold easily by the foreign exchange market if the interest rate differential of Japan and Europe and America extends. It becomes easy for the enterprise to borrow the capital investment capital besides the depreciation in yen inducement is expected in an additional easy credit policy, and stimulation to personal consumption expenditure like the decrease of the mortgage rate etc. is expected.
Because contents of additional economic measures of the government are thin, the perception with "The card of an additional relaxation is not lost" is strong in Bank of Japan from financial difficulty though Bank of Japan that shows the judgment with "Corporate results have picked up" (Shirakawa governor) in Monetary Policy Meeting on the tenth this month.
Bank of Japan seems to have opened a temporary meeting in the backdrop to which the observation with "An additional mitigation policy is decided in the week" (parties concerned with market) surfaces before a day when the Shirakawa governor and Prime Minister Yukio Hatoyama (at that time) confer last December, and there to be details that decide the introduction of a new operation.
However, the dimension of a new operation in March this year moves and the short-term interest rate of the thing for one year ..about 0.1%.. doesn't move from 10 trillion yen to 20 trillion yen after it is hiked ..the remainder... "The key rate that hits bottom doesn't go up and not fall" etc. There is the direction that doubts the effect of an additional relaxation in a part of parties concerned with market, too.
"Cooperate intimately with Bank of Japan" (Finance Minister Yoshihiko of Noda)The criticism with "Possession drawn in the picture" seems to rise to the independence of Bank of Japan as the inside and the central bank to which the remark comes one after another, too.
The source
http://sankei.jp.msn.com/economy/finance/100819/fnc1008190131000-n1.htm
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