FACTBOX-What is quantitative easing?
Dec 23 (Reuters) - Bank of Japan Governor Masaaki Shirakawa said last week that the central bank's decision to cut interest rates and buy more assets did not mark a return to quantitative easing, an extreme policy Japan used between 2001 and 2006.
But what is quantitative easing? Here are some details:
WHAT IS QUANTITATIVE EASING?
-- Quantitative easing refers to ways of boosting economic growth after traditional monetary policy tools, such as interest rate targets, have been exhausted.
-- Central banks flood the banking system with masses of money, more than is needed to keep official interest rates at zero or a low rate, to shore up financial systems and promote lending. They usually do this by buying up large quantities of assets from banks.
WHO HAS USED IT?
* JAPAN: Continued...
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