The cumulative effect of the upward revisions has been to increase the stock of investor credit outstanding by around $ billion, or 10 per cent. According to these new data, investor loans now account for 40 per cent of total housing loans outstanding, not the 35 per cent reported earlier in the year.
The first is yield curve control, in which the Bank sets the short-term policy interest rate at minus 0.1 percent and the operating target for long-term interest rates at around 0 percent. As for long-term interest rates, the Bank purchases Japanese government bonds (JGBs) while allowing some degree of fluctuation in long-term yields, depending mainly on developments in economic activity and prices.