Our expectation is also that Federal Reserve policy would be harmonized with FINRA’s practices in making anonymized agency MBS and debt transactions publicly available, taking into account what we learn from the comment process. Conclusion In sum, we recognize it is vitally important for the Federal Reserve and other agencies to keep up with the rapid changes we are seeing in the Treasury market.
Japan’s monetary policy has been constrained for a long time by the zero lower bound on short-term nominal interest rates. In this situation, QQE aims to achieve further easing effects by reducing long-term real interest rates. Specifically, the mechanism is as follows.