英語 での To monetary easing の使用例とその 日本語 への翻訳
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This means that Japan remains far from reaching a limit to monetary easing policy.
For example, if growth expectations heighten due to monetary easing, there might be capital inflows in search of a high natural rate of interest.
The US dollar will be strong due to interest rate hikes andthe yen will be weak due to monetary easing by Abenomics.
It also is an attempt to break the limit to monetary easing effects resulting from the zero lower bound.
If there are concerns that the inflation momentum will be lost, the Bank should decisively conduct additional easing andclearly argue against claims that there is a limit to monetary easing.
There are bright signs of the economic horizon thanks to monetary easing and the recovery of the US economy.
The Bank of England has been searching for an opportunity to raise the interest rate while maintaining a low policy interest rate of 0.5%; however, conversely,the Bank of England will turn to monetary easing.
In response to this situation,the Bank of Japan announced its strong commitment to monetary easing by adopting the zero interest rate policy.
Therefore, if market participants believe that a central bank's commitment to monetary easing will continue for a long period of time and that a short-term interest rate that is a policy rate will stay low for an extended period, then this will exert a downward force on long-term interest rates.
Up until the 1980s, it was this group's business fixed investment thatled economic recovery by responding positively to monetary easing in advance of spending by others.
Moreover, in standard theoretical models,it is assumed outright that the commitment to monetary easing is perfectly credible, which potentially gives rise to a discrepancy between such theoretical models and reality.
Prices in international commodity markets have recently been increasing, reflecting particularly the growth in emerging economies andinflows of surplus funds due to monetary easing in advanced economies.
However, if the inflation ratecontinues to exceed the inflation target due to monetary easing, there is a risk that people's confidence in the price stability target will be lost.
The real GDP growth rate for the world economy for 2013 is forecast to be 3.3% which is 0.1% downwardly-revised from the previous forecast.The current gradual recovery will continue due to monetary easing by more and more countries.
Some members pointed out that,in addition to support from the decline in interest rates due to monetary easing and the recovery of U.S. stock prices, Japanese stock prices had been underpinned by hopes that structural reform would advance.
One member noted that the Bank should emphasize that, if there emerged concerns that the inflation momentum would be lost, it would decisively conduct additional easing. This member continued that the Bank also should clearly argue against claims, which some people had pointed out,that there was a limit to monetary easing.
Although growth is expected to temporarilypick up in the second half of 2008 owing to monetary easing and the effects of tax cuts, adjustment in the housing market and financial institutions' balance sheet recovery will take time, and the pace of recovery until 2009 will be sluggish.
Regarding the financial environment, the effects of monetary easing were permeating through the economy as observed in(1) the higher growth in monetary indicators,(2) further easing in money market conditions anda further decline in short-term interest rates in response to monetary easing measures decided at the previous meeting, and(3) an improvement in the fund-raising conditions for firms through markets.
When interest rates decline due to monetary easing, lending margins of financial institutions narrow, given the limit to reducing loan interest rates, and their capital adequacy ratios remain under downward pressure as they are unable to secure profits commensurate with their risk-taking.
Many of these analyses present analytical results and interpretations indicating that in addition to the zero bound constraint of the interest rate,the substantial decline in responsiveness to monetary easing on the part of corporations and financial institutions resulting from their deteriorated core capital due to a plunge in asset prices played a major roles.
Comparison with Overseas Central Banks In relation to monetary easing by overseas central banks, we sometimes receive an opinion that"the Bank should pursue bolder monetary easing, like the Federal Reserve, by purchasing assets without setting a ceiling and a time limit or clarifying the duration for the zero interest rate.
A different member commented that, given that the timing of achieving the price stability target had been delayed, it was not desirable to adopt a stance of not taking action until a serious crisis occurred. This member continued that, rather, it was necessary to emphasize the Bank's stance of taking swift, flexible, and decisive actions, including additional easing, in response to changes in the situation, and to oppose the viewthat there was a limit to monetary easing-- which some people had expressed.