日本時間 12/17 4:15発表

FRB: Press Release--FOMC statement--December 16, 2008

Release Date: December 16, 2008

For immediate release

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.  (目標金利0.00~0.25%。実質ゼロ金利!事前の市場予想は0.5%への利下げ。サプライズ。)

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.(全員一致で可決)

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. 

値動きは以下のとおりです。

以下のチャートを見る前に1分間値動きを想像してみてください。

・NYダウ

・ドル円

・ユーロドル

・ユーロ円

・原油

・金


   

1分足 以下のチャートでは16日20:15が日本時間17日4:15

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15分足

fxe0126.JPG

    

FOMC実質ゼロ金利政策発表直後、

マーケットは何が起こったのか理解できなかったのか、

5分ほど固まってしまいました。

しかし、4:21から突如動き出し、

NYダウ 大暴騰

為替 ドル単独大暴落

原油 下落

金 高騰

となりました。

  

常識的な値動きとなりました。

ドル単独安というトレンドが既に始まっています。

   

※各国政策金利一覧

fxe0129.JPG

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