boj

Specific policies include inflation targeting at a 2 % annual rate , correction of the excessive yen3 appreciation4 , setting negative interest rates , radical5 quantitative6 easing , expansion of public investment , buying operations of construction bonds by Bank of Japan ( BOJ ) , and revision of the Bank of Japan Act .

具体政策包括：年通货膨胀率达到2%，抑制日元过度升值，制定负利率，量化宽松，扩大公共投资，日本银行购买建设性国债，以及修订《日本央行法》。

Analysts said the BoJ needed to do more to support the economy .

分析师表示，日本央行需要拿出更多的措施来支持经济。

Finally , the BoJ has to restrict its intervention to one day only .

最后，日本央行必须将干预措施限制在一天内进行。

The BoJ added that Japan was likely to see prices falling by the spring .

日本央行补充表示，到今年春季，日本可能会出现物价下跌。

The BoJ chief called on officials in advanced economies to be more patient .

日本央行行长呼吁发达经济体的官员们更加耐心。

The BoJ governor also warned that it could pave the way for the next financial crisis .

日本央行行长还警告称，宽松政策可能为下一场金融危机播下种子。

The BoJ has a new framework , but it is untested .

日本央行已经有了一个全新但未检测的框架。

Unfortunately , the BoJ is unlikely to have the nerve to test out the theory .

不幸的是，日本银行没有胆量接受此理论的考验。

The BOJ has also been purchasing exchange-traded funds as part of its easing measures .

作为其宽松政策的一部分，日本央行还买入交易型开放式指数基金。

Each intervention since September has come within two weeks of the BoJ adjusting its principal monetary policy tools .

自去年9月以来的每次干预汇市，都发生在日本央行对主要货币政策工具做出调整后的两周之内。

The BoJ has effectively stated that it will not take full responsibility for ending deflation .

实际上这等于是日本央行发出声明，终结通缩不完全是央行的责任。

Money multipliers , as the BoJ has learnt , can stay broken for a long time .

日本央行已经认识到，货币乘数有可能长期失效。

A second reason is the BoJ is not at liberty to act like the SNB .

第二个原因是，日本央行不能像瑞士央行一样自由行事。

The BoJ has sold the currency four times since late 2010 , under orders from the finance ministry .

自2010年底以来，日本央行在财务省的指令下已4次抛售日元。

Since the BoJ abandoned quantitative easing in March , Japan 's monetary base has withered .

自从日本银行在三月份放弃了定量放松政策，日本的货币基础就已经萎缩。

Every loss for the BoJ is a profit for someone else in the FX market , he says .

日本央行损失的每一分钱，都是外汇市场中其他人的收益，雷彻特蒙表示。

Until yesterday , most had thought the government would object if the BoJ moved swiftly to alter monetary policy .

直到昨天之前，大部分人都认为，如果日本央行迅速采取措施改变货币政策，政府将会反对。

To reach the target , he says the BoJ should pursue " unlimited " monetary easing .

他表示，要实现这一目标，日本央行应该实施“无限”的宽松货币政策。

The market may have been shocked by the BoJ announcement , but it should not have been .

市场可能受到日本央行声明的冲击，但它不应如此。

Under quantitative easing , the policy introduced in 2001 , the BoJ floods the market with excess liquidity .

日本央行在2001年出台“定量宽松”（quantitativeeasing）货币政策，向市场投放过量流动资金。

Of the three main central banks , the BoJ is key because Japan is more involved in risky trades around the world .

在全球三大央行中，日本央行是关键，因为日本在全球风险交易中的介入程度更深。

The BoJ should have opted for immediate , bold monetary loosening .

日本央行应选择立即实施大胆的货币宽松政策。

The independence of the BOJ was a highlighted point in this action for the failure of the pressure from the government .

日本央行这次顶住了政府压力做出改变货币政策的决定，凸现其独立性进一步提高。

Yesterday , local media quoted unnamed sources suggesting the BoJ might be willing to postpone raising rates .

昨日，日本媒体援引消息人士的话称，日本央行可能愿意推迟加息。

Finally , the BoJ did not commit to a precise time horizon by which it intends to reach its new target .

最后，日本央行并没有给出精确的时限，说明要在多长时间内达成新的通胀目标。

It may give the government an incentive to increase spending further and to push the BoJ to monetise it .

这可能促使政府进一步增加支出，并敦促日本央行将之货币化。

The BoJ held rates at0.50 % in an unanimous decision , as was widely expected .

市场普遍预期日本央行会维持0.50%利率不变。

The BoJ can start by being more assertive .

日本银行可以从更为自信的表现开始。

Just as the BoJ failed on that score , so , too , did the Fed .

正如日本央行一样，美联储在这一点上也没有得分。

The BOJ intervened to combat JPY strength and increased the amount of its asset purchases yet again .

日本央行也出手干预日圆升值，再度提升资产收购量。