Change in Monetary Policy (December 19, 2008).

Claims Supported by This Source

1. Lower the policy target for the uncollateralized overnight call rate by 0.2% to around 0.1% (7 votes for, 1 against). The Basic Loan Rate to 0.3%, and the interest rate on the Complementary Deposit Facility to 0.1%.
2. Increase purchases of long-term government bonds from 14.4 trillion yen/year (1.2 trillion yen/month) to 16.8 trillion yen/year (1.4 trillion yen/month). Add 30-year bonds, floating-rate bonds, and inflation-indexed bonds to the scope of purchases, and introduce a purchase method based on remaining maturity.
3. Also decided on measures to facilitate corporate financing (consideration of purchasing commercial paper, etc.).

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