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, December 16, 2008

FOMC statement

1.事実上のゼロ金利政策ですね。それにしても本石町さんが言っていたスイス型のバンド誘導で来ました。今週の日銀の決定会合にも影響を与えますかね。いまや円の政策金利のほうが高い事態ですよ。明日の東京時間・ロンドン時間では円が猛烈に買われるかもしれません。
2.下線の来年から始まる新しい家計とスモール・ビジネス向けのTALFの拡大は目に付きますが,市場はもうオバマ政権に期待しており,FRBが何かできるとは思っていません。(ユーロドル本格反転です。)
3.なお,October 29, 2008 付けのFOMCはエントリを作っていませんでした。ステートメントはこちらです。
※コメントはあとからさらに追加するかもしれません。冬時間のFOMCは仮眠をとってもつらいですね。(笑)

Release Date: December 16, 2008

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.

Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.

Meanwhile, inflationary pressures have diminished appreciably. In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the Committee expects inflation to moderate further in coming quarters.

The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability. In particular, the Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.

The focus of the Committee's policy going forward will be to support the functioning of financial markets and stimulate the economy through open market operations and other measures that sustain the size of the Federal Reserve's balance sheet at a high level. As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant. The Committee is also evaluating the potential benefits of purchasing longer-term Treasury securities. Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses. The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.

In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 1/2 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis, and San Francisco. The Board also established interest rates on required and excess reserve balances of 1/4 percent.

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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。

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