All policy measures-- including adjustments in short- and long-term interest rates, an acceleration in the pace of expansion in the monetary base, and an increase in the amount of assets to be purchased-- should be deliberated when considering additional easing.
She says that,“A strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases.”.
If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will end its current program of asset purchases at its next meeting.
Also, in the United States, in the period following the Lehman crisis until the introduction of a large-scale asset purchase program-- the so-called"quantitative easing II"-- in November of 2010, unconventional monetary easing measures were implemented four times.
In particular, the Federal Reserve's earlier program of asset purchases appeared to be successful in influencing longer-term interest rates, raising the prices of equities and other assets, and improving credit conditions more broadly, thereby helping stabilize the economy and support the recovery.
If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will end its current program of asset purchases at its next meeting.
In the meantime, at the Monetary Policy Meeting held on August 4, the Bank decided to enhance monetary easing by increasing the total size of the Asset Purchase Program by about 10 trillion yen: 5 trillion yen for the fixed-rate funds-supplying operation against pooled collateral and 5 trillion yen for asset purchases.
Successive monetary policy measures in the United States conducted following the Lehman shock were similar in that they included large-scale asset purchases such as mortgage-backed securities and government securities, changes in the composition of assets, and the continuance of the zero federal funds rate policy, at least through mid-2013 given the conditions of economic activity and prices.
Voting against the action was Narayana Kocherlakota, who believed that, in light of continued sluggishness in the inflation outlook and the recent slide in market-based measures of longer-term inflation expectations, the Committee should commit to keeping the current target range for the federal funds rate at least until the one-to-two-year ahead inflation outlook has returned to 2 percent and should continue the asset purchase program at its current level.".
Asset purchase facilities remained unchanged at 435 billion pounds.
インフレが低水準にとどまった場合、ECBは資産購入を検討すべき」。
If inflation remains stubbornly low, the ECB should consider a large-scale asset purchase programme.
日銀も6月以降、資産購入増額やマイナス金利幅拡大など追加金融緩和。
The Bank of Japan will move in June at the earliest to undertake additional easing measures like increased asset purchase and more negative interest rates.
そのうち200,000元は固定資産購入のため、60,000元は交際費。
NTD 200,000 of the purchases was for fixed assets and NTD 60,000 for community relations purposes.
二つ目は、コミットメントを裏打ちするための、前例のない規模での資産購入です。
The second is an unprecedented scale of asset purchases in order to underpin that commitment.
ユーロ圏の資産購入は量ではなく、価格が目標になる」と説明する。
Asset purchases in the euro area would not be about quantity, but about price”.
昨日ECBの総裁ドラギは、資産購入により資金供給は予定通り今年で終了する見込みと言った。
ECB President Mario Draghi confirmed the Bank's asset purchases will come to an end this month, as expected.
日銀は資産購入額拡大、マイナス金利幅拡大など追加金融緩和を7月にも実施する見通し。
The Bank of Japan is expected to implement further monetary easing such as expanding the asset purchase amount and further cutting the interest rate in July.
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