美國聯邦公開市場委員會2008.12.16調降貨幣政策利率0.75個百分點

 

Release Date: December 16, 2008 

發布日期:20081216

 

For immediate release  立即發布

 

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.  

聯邦公開市場委員會今日決定,將聯邦資金利率目標區間訂定在01/4%之間。

 

Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined.  Financial markets remain quite strained and credit conditions tight.  Overall, the outlook for economic activity has weakened further.

自聯邦公開市場委員會前次會議以來,勞動市場情況已經惡化,且可運用的資料顯示:消費者支出、企業投資、和工業生產都已經減退。金融市場仍然相當緊繃,且授信情況緊俏。整體而言,經濟活動展望將為進一步減弱。

 

Meanwhile, inflationary pressures have diminished appreciably.  In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the Committee expects inflation to moderate further in coming quarters.

同時,物價膨脹壓力已經明顯緩。於能源和其他原物料商品價格下降,且經濟活動前景趨弱,聯邦公開市場委員會預期在未來各季,物價壓力將進一步趨緩。

 

The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability.  In particular, the Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.  

聯邦準備體系將動用一切可得運用的工具,以促進恢復可支撐的經濟成長和維護物價穩定。詳言之,聯邦公開市場委員會預期,在弱勢的經濟情況下,很可能有必要讓異常低的聯邦資金利率水準維持一段時間。

 

The focus of the Committee's policy going forward will be to support the functioning of financial markets and stimulate the economy through open market operations and other measures that sustain the size of the Federal Reserve's balance sheet at a high level.  As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant.  The Committee is also evaluating the potential benefits of purchasing longer-term Treasury securities.  Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses.  The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.

展望未來,聯邦公開市場委員會的政策焦點,將為透過公開市場操作和其他維持聯邦準備體系資產負債表規模於高水準的措施,以支援金融市場的運作,和刺激經濟。如同先前所宣布,在往後各季,聯邦準備體系在必要的情況下,將購買大量的政府贊助機構債券和房貸證券,以提供房貸市場和房屋市場支援。而且,聯邦準備體系隨時準備在必要的情況下,擴大購買政府贊助機構債券和房貸證券。聯邦公開市場委員會也正在評估,購買長期公債的潛在利益。明年初,聯邦準備體系也將執行「中長期資產證券化證券融資計畫」,以協助對家計單位和小企業的授信。聯邦準備體系將繼續擬對策,運用本身的資產負債表以進一步支援信用市場和經濟活動。

 

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.

投票贊成聯邦公開市場委員會的貨幣政策措施者為:主席Ben S. Bernanke; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.

 

In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 1/2 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis, and San Francisco.  The Board also established interest rates on required and excess reserve balances of 1/4 percent.  

在相關措施方面,聯邦準備理事會一致通過,調降貼現率75個基點至1/2%。這項措施,係聯邦準備理事會核准紐約、克里夫蘭、李奇蒙、亞特蘭大、明尼亞波利、和舊金山等聯邦準備銀行董事會的請求。此外,聯邦準備理事會也訂定對法定準備金和超額準備金餘額的計息利率為1/4%