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  • Kuroda: Introduction of "Quantitative and Qualitative Monetary Easing with a Negative Interest Rate"

    From or.jp Story is in PDF Format

    It is my great pleasure to have the opportunity today to speak at the Kisaragi-kai meeting. At the Monetary Policy Meeting held on January 29, the Bank of Japan decided to introduce "Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate" in order to achieve the price stability target of 2 percent at the earliest possible time. Today, I will first explain the Bank's recognition of and prospects for economic activity and prices in Japan, and then elaborate on the background to the policy decision made this time around. I. Economic Activity in Japan First, I would like to talk about economic ... (full story)

only useful for their own ministry of finance to the official reconstruction "borrowing" action.
on chart9 of the document, the chart said
"The Bank will apply a negative interest rate of minus 0.1 percent to current accounts that financial institutions hold at the Bank."

The most important words are "current accounts".
That means "trader" or simply to say "us".

The words "financial institutions" needs to be further defined!
Will this affect "personal current account" on "foreign country's bank"?
"sufficient room to add to purchase" for its QQE programme as well as further negative rates. Looks like usdjpy will move higher after a strong retracement.
BOJ replies my above question here about the words "financial institutions" :
Question 8 is added to the Q&As for the "Quantitative and Qualitative Monetary Easing with a Negative Interest Rate"
http://www.boj.or.jp/en/announcements/release_2016/k160129b.pdf
http://www.boj.or.jp/en/announcements/release_2016/rel160203b.htm/
http://www.boj.or.jp/en/
Rate cut leading the yen up slowly. Fk Kuroda the troublemaker
You cannot learn better without losing
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I've read that there are 3 tranches of the current account and only one of these will attract negative rates. The kicker is that there is almost no money in the tranche that would attract negative rates. So actually there is no negative rates.
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