New Monetary Policy Tools The MPC and FOMC have extensively--particularly in recent years--used two monetary policy tools other than decisions on the current short-term interest rate. These tools are forward guidance and asset purchases. 17 Monetary authorities used to be very reluctant to discuss the future course of the policy rate.
Generally, growth in current profits is much greater than that in sales – reflecting an improvement in the terms of trade (caused by a plunge in commodity prices such as for crude oil) as well as profits from revaluation of dividends from overseas and higher yen-based export prices, both driven by the yen’s depreciation.