{"id":236135,"date":"2024-01-26T06:09:57","date_gmt":"2024-01-26T00:39:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=236135"},"modified":"2024-01-26T06:09:57","modified_gmt":"2024-01-26T00:39:57","slug":"agreed-to-patiently-maintain-easy-policy-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/agreed-to-patiently-maintain-easy-policy-crypto-news\/","title":{"rendered":"Agreed to patiently maintain easy policy – Crypto News"},"content":{"rendered":"

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The Bank of Japan (BoJ) Board members shared their views on monetary policy outlook and Yield Curve Control (YCC), per the BoJ<\/a> Minutes of the December meeting.<\/p>\n

Key quotes<\/strong><\/h2>\n
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\u201cMembers agreed must patiently maintain an easy policy.\u201d
\u201cMany members said must confirm a positive wage-inflation cycle in order to consider ending negative rates, YCC.\u201d
\u201cA few members said a decision on whether positive wage-inflation cycle is in place must be made comprehensively, not at looking at particular data.\u201d
\u201cA few members said don’t see the risk of BOJ being behind the curve, can wait for developments in this spring’s annual wage talks.\u201d
\u201cOne member said even if wage hikes in 2024 overshoot expectations, risk of trend inflation sharply deviating 2% was small.\u201d
\u201cOne member said Japan’s inflationary pressure subsiding, important to carefully scrutinize wage, price moves.\u201d
\u201cOne member said BOJ can spend ample time determining wage-inflation cycle as it has already addressed side-effects of YCC.\u201d
\u201cOne member said the timing to normalize monetary policy was nearing.\u201d
\u201cOne member said BOJ must not miss the opportunity to change policy to prevent rising inflation from hurting consumption.\u201d
\u201cThis member said the risk of inflation rising too much and requiring sharp monetary tightening was small, but if this happens the cost would be enormous.\u201d
\u201cMembers agreed what means, and what order, BOJ would end negative rates and YCC must be decided to look at the economy, price, market moves at the time.\u201d<\/p>\n<\/blockquote>\n

Market reaction<\/strong><\/h2>\n

Following the\u00a0BoJ\u00a0Minutes, USD\/JPY<\/a> was up 0.04% on the day at 147.77.\u00a0<\/p>\n

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Bank of Japan FAQs<\/strong><\/h2>\n
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The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.<\/p>\n<\/section>\n

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The Bank of Japan has embarked in an ultra-loose monetary policy since 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank\u2019s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds.<\/p>\n<\/section>\n

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The Bank\u2019s massive stimulus has caused the Yen to depreciate against its main currency peers. This process has exacerbated more recently due to an increasing policy divergence between the Bank of Japan and other main central banks, which have opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ\u2019s policy of holding down rates has led to a widening differential with other currencies, dragging down the value of the Yen.<\/p>\n<\/section>\n

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A weaker Yen and the spike in global energy prices have led to an increase in Japanese inflation, which has exceeded the BoJ\u2019s 2% target. Still, the Bank judges that the sustainable and stable achievement of the 2% target has not yet come in sight, so any sudden change in the current policy looks unlikely.<\/p>\n<\/section>\n<\/div>\n

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Share: The Bank of Japan (BoJ) Board members shared their views on monetary policy outlook and Yield Curve Control (YCC), per the BoJ Minutes of the December meeting. Key quotes \u201cMembers agreed must patiently maintain an easy policy.\u201d\u201cMany members said must confirm a positive wage-inflation cycle in order to consider ending negative rates, YCC.\u201d\u201cA few […]<\/p>\n","protected":false},"author":2,"featured_media":16688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,257,255,1062,250,333,252,247,253,249,275,256,254],"class_list":["post-236135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-japan","tag-looks-rare","tag-macroeconomics","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/236135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=236135"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/236135\/revisions"}],"predecessor-version":[{"id":236137,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/236135\/revisions\/236137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/16688"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=236135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=236135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=236135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}