Start hereDictionarySearch
English
日本語English中文ItalianoFrançaisDeutschEspañol
Sign in Fees and how to study
NOMISMA
Read history Money history: the world and JapanBubbles, frauds and financial crisesPeople who changed moneyReadingsSee all of Read history
Understand how money works Banks and depositsInterest, prices and exchange ratesCash and digital paymentsHistory's lessons for today's decisionsSee all of Understand how money works
Look at coins Browse by photoImages, letters and materialsCare, storage and tradingSee all of Look at coins
Start hereDictionarySearch
Fees and how to study Sign in
Language
日本語English中文ItalianoFrançaisDeutschEspañol
BIBLIOGRAPHY

On the Introduction of "Quantitative and Qualitative Monetary Easing" (April 4, 2013)

Bank of Japan (Policy Board, Monetary Policy Meeting)

Claims Supported by This Source

  1. Changed the operating target to the monetary base, and will conduct money market operations so that it increases at an annual pace of about 60-70 trillion yen. Forecast: 138 trillion yen at end-2012 → 200 trillion yen at end-2013 → 270 trillion yen at end-2014.
  2. Purchase long-term JGBs so that their amount outstanding increases at an annual pace of about 50 trillion yen. The scope of purchases will be expanded to all maturities, including 40-year bonds, and the average remaining maturity will be extended from slightly less than 3 years to about 7 years.
  3. ETFs approx. 1 trillion yen/year, J-REITs approx. 30 billion yen/year. The Asset Purchase Program was abolished. The banknote rule was temporarily suspended.
  4. Attachment: Forecast for current account balances from 47 trillion yen at end-2012 to 175 trillion yen at end-2014, and for long-term JGBs from 89 to 190 trillion yen.

How to read the verification levels. 'Read' means the material was read in its entirety. 'Bibliography and abstract confirmed' means the bibliographic information and abstract were verified. 'Via course material' means the source was referenced through the main text of a book or a country's monetary history. The text hash is the SHA-256 of the main text from the original source page, excluding tags and whitespace, used to detect if the material has been altered.