市場乱高下の影響点検　政策金利据え置きの公算―１９日から日銀会合

　日銀は１９、２０両日に開く金融政策決定会合で、政策金利である短期金利の誘導目標を「０．２５％程度」に据え置く公算が大きい。７月末の追加利上げ決定後、株価と円相場が乱高下したことを受け、当面は市場の急変動の影響を見極めることを優先する。
　前回会合では、利上げと同時に、月間６兆円程度の国債買い入れ額を２０２６年１～３月に月間３兆円程度と半減させる減額計画を決定。会合後、米景気の後退懸念も重なり、日経平均株価が史上最大の下げ幅を記録し、円相場は急騰した。
　市場混乱を受け、内田真一副総裁は「市場が不安定な状況で利上げをすることはない」として、さらなる利上げを当面休止する方針を表明。歴史的な円安の修正が進んだことで、物価の上振れリスクは和らぎ、日銀は利上げを急ぐ必要性が薄らいだとみている。（2024/09/13-15:51）

The Bank of Japan is widely expected to keep its short-term interest rate target at around 0.25 pct at its two-day policymaking meeting from Thursday as it is putting more of its focus on assessing the impact of recent financial market turbulence for the time being.
   The central bank's decision at its previous policy meeting in late July to raise the rate from the range of around zero to 0.1 pct caused stock and currency markets to fluctuate wildly. The country's benchmark Nikkei 225 stock average logged its steepest-ever point drop while the yen shot up against the dollar, also reflecting investor worries over the U.S. economy.
   At the July meeting, the BOJ also decided to reduce its purchases of long-term Japanese government bonds by about 400 billion yen every quarter so that its monthly buying will fall from around 6 trillion yen to around 3 trillion yen by January-March 2026.
   Following the market turmoil, BOJ Deputy Governor Shinichi Uchida in early August indicated that further rate hikes would be put on hold for the time being, saying the bank "will not raise its policy interest rate when financial and capital markets are unstable."
   The BOJ apparently determined that the need to rush rate hikes has subsided as inflationary pressure receded thanks to the yen rebounding from extraordinarily low levels.