EURO SELLERの為替・投資戦略ブログ

2005年6月の欧州憲法否決の際にユーロを売りまくった管理人の【新】為替・投資日記ブログです。くれぐれも投資行動は自己責任でお願いします。

FOMC statement, April 25, 2012

FOMC statement

2012年3月13日以来,約43日ぶりのリリースでしたが,今回も政策金利は据え置きで内容も前回からほとんど変わらないのが特徴です。ただし,必要なら追加の緩和処置をするというバーナンキ議長のコメントで,ユーロ圏の財政危機や政治的不安定さを睨みながら変化の少ないFOMC本文をフォローしていました。

1.景気回復については,前回の"has been expanding moderately"から変化はない。(※1下線)
2.雇用情勢については,微妙な副詞句の変化はあるが直近の雇用統計の改善の状況のままで変化はない。(※2下線)
3.家計消費については,前回の"have continued to advance"から変化はない。(※3下線)
4.インフレ要因については,前回の"Inflation has been subdued in recent months"から今回の"Inflation has picked up somewhat"に変化し,原油価格とガソリン価格の上昇懸念をより強調。(※4下線)
5.景気の展望については,前回の"expects moderate economic growth over coming quarters"から今回の"expects economic growth to remain moderate over coming quarters and then to pick up gradually"に文体は変化し,先行きの明るさへの願望を表現。(※5下線)
6.明らかな景況感の後退リスクは,前回の"Strains in global financial markets have eased"から今回の"Strains in global financial markets continue to pose significant downside risks"に変化し,ユーロ圏の問題の継続を表現。(※6下線)
7.インフレ見通しについては,前段での原油とガソリンの価格上昇は少しの変化はあるが,前回の"inflation will run at or below the rate that it judges most consistent with its dual mandate"から変化はない。(※7下線)
8.今回も緩和政策の維持を特に示唆する一文は継続中。(※8下線)
9.レートは今回も0.25%で据え置きで,今回も"warrant exceptionally"と"at least through late 2014"の明確な時間軸設定が継続。(※9下線)
10.第4パラグラフは全く変わらないで,"to promote a stronger economic recovery in a context of price stability"の表記も継続。(※10下線)
11.ブレないラッカー総裁が継続的に緩和政策の時間軸表現に反対。(※11下線)

For immediate release
Information received since the Federal Open Market Committee met in March suggests that the economy ※1has been expanding moderately. ※2Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated. Household spending and business fixed investment ※3have continued to advance. Despite some signs of improvement, the housing sector remains depressed. ※4Inflation has picked up somewhat, mainly reflecting higher prices of crude oil and gasoline. However, longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee ※5expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the Committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate. ※6Strains in global financial markets continue to pose significant downside risks to the economic outlook. The increase in oil and gasoline prices earlier this year is expected to affect inflation only temporarily, and the Committee anticipates that subsequently ※7inflation will run at or below the rate that it judges most consistent with its dual mandate.

To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, ※8the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for ※9the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to ※9warrant exceptionally low levels for the federal funds rate ※9at least through late 2014.

The Committee also decided to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate ※10to promote a stronger economic recovery in a context of price stability.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah Bloom Raskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. ※11Voting against the action was Jeffrey M. Lacker, who does not anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate through late 2014.

コメント

コメントの投稿

管理者にだけ表示を許可する

トラックバック

http://eurofunda.dtiblog.com/tb.php/1128-3c59e8b0

« ドル円・ユーロドル・ドルスイスの展望【2012/04/23の週】  | HOME |  2012年3月YTDヘッジファンド成績 »

PAGE TOP ▲

Appendix

EURO SELLER

EURO SELLER

管理人のニックネームEURO SELLERの由来は,2005年6月の欧州憲法の否決の際にユーロを売りまくったことからきています。もう一つのシステムトレードのブログはこちらです。

DTIブログポータルへ
このブログを通報
Report Abuse

Search

Calender

« | 2017-10 | »
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 - - - -

Forex Rates

This site's QR Code