Bank of Japan

September 19, 2012
Bank of Japan
Amendment to “Principal Terms and Conditions for the Asset Purchase Program”
At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan made the following decisions regarding the Asset Purchase Program with a view to further enhancing monetary easing.
1. The Bank shall amend the “Principal Terms and Conditions for the Asset Purchase Program” (see Attachment 1).
2. The Bank shall amend the “Principal Terms and Conditions for Outright Purchases of Japanese Government Bonds and Treasury Discount Bills Conducted through the Asset Purchase Program” (see Attachment 2).
3. The Bank shall amend the “Principal Terms and Conditions for Outright Purchases of CP and Corporate Bonds Conducted through the Asset Purchase Program” (see Attachment 3).

http://www.boj.or.jp/en/announcements/release_2012/k120919a.pdf

Analisa :

Pembelian asset oleh BoJ naik  menjadi Y80 triliun dari sebelumnya Y70 triliun, dimana semua mempunyai batasan dan kondisi yang berlaku. Bebarapa analis beranggapan bahwa Keputusan BoJ tidak sepenuhnya di luar perkiraan dimana walaupun mengikuti kebijakan The Fed tetapi kebijakan BoJ juga tidak bisa dibandingkan dengan program pelonggaran tak terbatas Fed AS.

“Trend saat ini bagus dan pasar mencari faktor penggerak lain untuk melanjutkan gain.”

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