The world has 5 ECB negative interest rates around the world have 5 ECB negative interest rates the Bank of Japan Securities Times reporter Ma Chuanmao recently announced the implementation of a negative interest rate on excess reserves news, multinational bond yields have down. In fact, the interest rates of the major developed countries are at a very low level, and many countries have implemented negative interest rates. In addition to Japan, the central banks of the eurozone, Switzerland, Sweden and Denmark have previously implemented negative interest rates to curb deflation. JP Morgan latest report said that the current global negative income policy bonds reached $5 trillion and 500 billion scale. CICC analysts believe that the main significance of negative interest rates in the short term is that the Bank of Japan expressed further monetary easing to the market, the actual impact on the real economy remains to be seen, but Japan’s monetary policy further easing space. The major developed countries at a very low level of interest rate policy in developed countries the majority of policy rates at very low levels, even many negative interest rates. The Federal Reserve launched the four round of quantitative easing monetary policy, the federal funds rate (overnight) target range has been at the lowest level of 0~0.25% for a long time. Until December last year, the Federal Reserve announced that it would raise the federal funds rate by 0.25 percentage points, and the new federal funds target rate would remain between 0.25% and 0.5%. The Bank of England began to implement quantitative easing in March 2009, the official bank rate cut from 5% to 0.5%, and maintain so far; the European central bank loans interest rate (overnight) from July 2008 5.25% down to 0.3% in September 2014, the deposit facility rate from 3.25% down to minus 0.2%, and in December last year further reduced to minus 0.3%. Since 2010, the Central Bank of Japan has kept the policy rate unsecured overnight lending rate (overnight) at a very low level of 0.05%~0.1%. The Central Bank of Japan recently announced that the excess reserve rate should be set at negative 0.1%. In addition to the euro zone and Japan, the countries with negative interest rates include Switzerland, Sweden and denmark. Among them, the Swiss central bank in December 2014 March the Swiss Franc Libor rate down to minus 0.06%, officially joined the ranks of negative interest rates "; in 2015, the Swiss central bank benchmark interest rate remained at -0.85%~-0.72%. In July 2012, facing the influx of European debt crisis and the pressure of international capital, Denmark decided to carry out the experiment of negative interest rates up to now, the Danish central bank deposit rate is negative 0.65%. Denmark’s 5 largest banks expect the Danish Central Bank will not be before the end of 2017 will be positive rate plus interest rate. Sweden is the first implementation of the "negative interest rate" of the central bank, from the beginning of July 2009, the Swedish central bank began a negative interest rate experiment, the deposit interest rate reduced to minus 0.25%, 1 years after the return to zero level. In February 2015, Sweden began to implement negative interest rates, the benchmark interest rate from minus to minus 0.1%. As of now, the Swedish central bank benchmark interest rate has dropped further to negative 0.35%. The Swedish central bank

全球已有五大央行实施负利率 全球已有五大央行实施负利率   证券时报记者 马传茂   日本央行近期宣布对超额储备金实施负利率的消息,多国国债收益率纷纷下行。   事实上,主要发达国家政策利率多处于极低水平,已有多国实施负利率。除日本外,欧元区、瑞士、瑞典与丹麦央行均于此前实施负利率来遏制通缩。摩根大通最新报告称,目前全球负收益政策债券规模已达5.5万亿美元。   中金公司分析认为,负利率短期内最主要的意义在于日本央行向市场表达进一步货币宽松的决心,对实体经济的实际影响有待观察,而日本货币政策还有进一步宽松的空间。   主要发达国家政策   利率处于极低水平   主要发达国家政策利率多数处于极低水平,甚至有多国实施负利率。   美联储连续推出四轮量化宽松货币政策,联邦基金利率(隔夜)目标区间长期处于0~0.25%的最低水平。直至去年12月,美联储宣布将联邦基金利率提高0.25个百分点,新的联邦基金目标利率将维持在0.25%至0.5%的区间。   英格兰银行则于2009年3月开始实行量化宽松,官方银行利率从5%下调至0.5%,并维持至今;欧洲央行贷款便利利率(隔夜)从2008年7月的5.25%下调至2014年9月的0.3%,存款便利利率从3.25%下调至负0.2%,并于去年12月进一步下调至负0.3%。   日本央行从2010年开始将政策利率无担保拆借利率(隔夜)更多地维持在0.05%~0.1%的极低水平。日本央行更是于近期意外宣布将超额储备金利率设定在负0.1%。   除欧元区、日本外,目前负利率国家还包括瑞士、瑞典、丹麦三国。其中,瑞士央行于2014年12月将瑞士法郎3月期Libor利率下调至负0.06%,正式加入“负利率大军”;2015年,瑞士央行基准利率基本维持在-0.85%~-0.72%。   2012年7月,面临欧债危机及国际资本大量涌入的压力,丹麦决定开展负利率实验,截至目前丹麦央行存款利率为负0.65%。丹麦最大的5家银行预计,丹麦央行将不会在2017年年底前将利率加至正利率。   瑞典则是第一家实施“负利率”的央行,从2009年7月开始,瑞典央行开始负利率实验,将存款利率减至负0.25%,1年后才恢复为零水平。   2015年2月,瑞典正式开始实施负利率,将基准利率从零下调至负0.1%。截至目前,瑞典央行基准利率已进一步降至负0.35%。瑞典央行此前还表示,2016年下半年前不会加息。   我国央行多次下调利率   为缓解经济下行压力、推动社会融资成本下行,人民银行自2014年11月起连续6次下调存贷款基准利率,6个月至1年期的贷款基准利率从5.6%下调至当前的4.35%。   这一政策利率水平明显高于美英欧日等主要发达国家和地区。我国银行贷款利率相对发达国家也较高。   银监会研究报告认为,银行资金成本较高、企业风险溢价快速上升对贷款利率的下行产生了一定阻力,银行营运成本压降、资本回报和净息差的调降有助于企业贷款利率的回落。下一步,需要从银行资金成本、企业偿债能力、银行盈利能力、政策传导机制等方面多方施策,推动银行贷款利率和企业融资成本进一步下降。 进入【新浪财经股吧】讨论相关的主题文章: