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Kuroda: Answers to Frequently Asked Questions on "Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate"
It is a great honor to be invited to this meeting hosted by the Yomiuri International Economic Society today. At the end of January, the Bank of Japan decided to introduce "Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate," which added the new dimension of "a negative interest rate" to the existing policy of QQE. Specifically, the Bank applies a negative interest rate of minus 0.1 percent to current accounts that financial institutions hold at the Bank. This measure enables the Bank to now pursue additional monetary easing by providing the new option of "a negative interest rate" ... (full story)
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