Open market operation Archives - Financial Occultist

The meeting will begin at 0000 GMT

BOJ calls for unscheduled monetary policy meeting on 22 May

The central bank is likely to announce a new scheme to facilitate funding for banks to extend to small businesses that have been hit by the fallout from the coronavirus outbreak.

In short, it is yet another measure to bolster liquidity conditions in the financial system, in order to ease corporate funding strains.

I don’t believe that the Kuroda & co. will offer any surprises beyond that, so expect other monetary policy tools to remain unchanged. They will likely just use the meeting to communicate the details of the new scheme if anything else.

As for the impact on the yen, I would argue that this should not play too significant of a role as the central bank has played it down and Kuroda has made mention to this in the past.

For USD/JPY, continue to keep an eye on the elusive 108.00 handle in any case.

Fed increases sizes of overnight, term repo operations

09-Mar-20 06:30 pm

Analysis

Anirudh Sethi

The Fed just hiked the amount offered in its repo operations

The statement via the NY Fed:

“The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has updated the current monthly schedule of repurchase agreement (repo) operations.

Beginning with today’s operation and through March 12, 2020, the Desk will increase the amount offered in daily overnight repo operations from at least $100 billion to at least $150 billion. In addition, the Desk will increase the amount offered in the two-week term repo operations on Tuesday, March 10, 2020 and Thursday, March 12, 2020 from at least $20 billion to at least $45 billion.”

You can check out the other smaller details here. Not QE they said. Things will go back to normal soon enough they said. Look where are we now.