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воскресенье, 8 апреля 2012 г.

Fiscal policy in Japan and Russia?

 Central Bank since the beginning of February in the market bought a billion dollars
Limassol, February 10. The Bank of Russia since the beginning of February 2012 bought in the domestic market $ 1 billion since the beginning of the year - about $ 800 million, today told reporters the first deputy chairman of the Central Bank Alexei Ulyukayev in the margins of the Cyprus-Russian investment forum, PRIME.
"Since February (buy - Ed.) About $ 1 billion, for a total since the beginning of the year - 800 million dollars," - said Ulyukayev.
He recalled that the net sales (sales minus purchase) of foreign currency in January was $ 200 million
The first deputy chairman of the Central Bank also said that the share of the U.S. dollar in international reserves of Russia currently stands at 46.5%, EUR - 40.5%, the pound sterling - 9%, the Canadian dollar - 2%, Japanese yen - 2%.
 
The head of the Central Bank Sergei Ignatiev last disclosed currency composition of international reserves of Russia in late May of last year: 47% were then on the U.S. dollar, 41% - the euro, 9% - the pound sterling, 2% - on the Japanese yen, 1% - the Canadian dollar.


Thus, the share of the Canadian dollar rose by 1 percentage point by reducing the share of the U.S. dollar and the euro by 0.5 percentage points.More: http://www.rosbalt.ru/business/2012/02/10/944529.html-----------------------------------The Bank of Russia in February compared to January increased net buying (buying minus selling) dollars by 5.4 times - up to 3.482 billion euros - 6.4 times - up to 796.42 million, according to the Central Bank interventions on currency the Russian Federation. --------------------------------------------------- -----------------
Central Bank foreign currency bought in March by 4.3 billion dollars - Daily News - PosBiznesKonsaltingwww.rbc.ru CBR currency bought in March by 4.3 billion dollars. Central Bank of Russia in March 2012. bought the currency by 4.3 billion dollars, reported the head of the Bank of Russia Sergei Ignatyev, the Congress of the Association of Russian Banks.-------------------------------------------------- ---Japan held the first currency intervention in 6 yearsJapan held the first currency intervention in the market since 2004, according to Bloomberg. The aim of the intervention was to weaken the yen, which is kept for several weeks near the 15-year high. According to the Ministry of Finance, the ceiling for the growth of the Japanese currency is 82 yen per dollar. In early trading on September 15 rate was 82.88 yen per dollar, but after the intervention, the dollar rose sharply, reaching 84.87 yen.The government was forced to intervene in the foreign exchange market after the country's business leaders urged to help the industrial sector. Dear Yen causes great damage to exports, the mainstay of national economy. In terms of exports, Japan is the fourth largest in the world after China, Germany and the USA.
  
The first six years of the intervention led to a sharp rise in Japanese stock market quotes. The main Nikkei index rose 2.34 percent to 9516 points, while the Topix - by 1.65 percent to 848 points.Ian is one of the most reliable currency in the world due to the low level of external debt in Japan. As a result, in times of deteriorating financial markets, investors perceive it as a "safe haven". Because of the mass buying rate increases. Since the beginning of the credit crisis in 2008, the yen against the dollar added more than 20 percent.
 
Lenta.ru
  
Bank of Japan kept interest rates at the level of 0,0-0,1% 24.01.2012, 08:49Bank of Japan left the key interest rates unchanged - at the level of 0,0-0,1%. Such information is contained in the materials of the financial regulator.Decision to keep the target interest rate on overnight loans at the same level it was unanimously adopted on the basis of a vote held today, members of the Board. This decision was predicted by most analysts.At the same time the Bank of Japan said that the country's economic growth in 2011-2012 and 2012-2013 fiscal years will slow down because of the risks associated with the debt crisis in the eurozone. In particular, according to new forecasts in the current fiscal year, Japan's GDP will decline by 0.3-0.4%, and the next year - will rise by 1.8-2.1%. In October 2011 the Central Bank projected the growth rate of 0.2-0.4% and 2.1-2.4% respectively.However, the Bank of Japan forecast for GDP growth in the 2013-2014 fiscal year was, however, increased slightly - from 1.3-1.6% to 1.4-1.7%. It is expected that in future the economy will continue to grow against a background of progressively meet the demand associated with the restoration of the country after a devastating natural disaster in March 2011Recall, December 21, 2011 Bank of Japan left unchanged - at the level of 0-0.1%. Earlier, on November 16 as the Bank of Japan left the key interest rates unchanged - at the level of 0,0-0,1%. Then, in the Central Bank warned about the risks of negative impact of debt problems in Europe on the economy.In October, the Bank of Japan said that the country's economic recovery continues, pointing to the rising trend in exports and industrial production. Against this background, the Japanese Central Bank is very concerned about the impact that the debt crisis in Europe is having on the country, located at the other end of the world. That same month, the bank increased its program of buying assets by 5 trillion yen (66 billion dollars) - up to 20 trillion yen, indicating that additional funds will be used to purchase Japanese government bonds.Recall, the Japanese Central Bank has lowered interest rates to a level of 0-0.1% on October 5. Then, in the Bank of Japan said that economic recovery is at a moderate pace, but the country still needs a stimulus package from the authorities. The target rate of the Japanese Bank for overnight loans to commercial banks stood at 0.1% from December 19, 2008. At the end of 2008, double the Bank of Japan changed the discount rate: 31 October - from 0.5% to 0.3% per annum, and after a month and a half - to 0.1%. In 2001-2006. Japanese bank pursued a policy of zero interest rates in an effort to combat the state with chronic diseases the Japanese economy of the last two decades - a negative inflation and anemic growth in business activity.
 
(Fed) decided to keep key interest rates in the range of 0-0.25% per annum. December 8th European Central Bank (ECB) lowered the discount rate to 1.0%.--------------------------------------
 
Refinancing rate (discount rate) of the Central Bank of the Russian Federation to 8.04. 2012 is 8%.

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