BoJ Bank Lending y/y shows the dynamics of all outstanding loans in Japanese banks in the current month as compared to the same month of the previous year.
The Bank of Japan has set a negative interest rate, which means rates are below zero. This is a non-traditional monetary policy used to stimulate the economy.
BOJ lending refers to lending to a bank that has a checking account with the Bank of Japan (BOJ). There are three types of lending: bill discount, bill lending, and overdraft. Bill discount is a re-discount of the commercial bills that the financial institution discounted from the trading partner to meet the discount eligibility criteria. Bill lending includes promissory notes, government bonds, government short-term securities, government-guaranteed bonds, FILP agency bonds, municipal bonds, financial bonds, general corporate bonds, yen-denominated foreign bonds, etc. In order to receive loans flexibly, the financial institutions provide collateral to the Bank of Japan's main branch in advance. Overdraft allows banks to borrow the BOJ's checking account.
Index above the predicted value may have a positive effect on Japanese Yen. Increasing lending volumes hint at improving business sentiments and growing investments. However, Japanese yen tends to be more affected by foreign indicators than domestic ones.
The chart of the entire available history of the "Bank of Japan (BoJ) Bank Lending y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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