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Credit-easing steps by central banks, at a glance

Published on NewsOK Modified: September 17, 2014 at 4:36 pm •  Published: September 17, 2014
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— BANK OF ENGLAND

Interest rates: Has kept its benchmark rate at a record low of 0.5 percent since 2009. But the central bank's policymakers remain divided on whether to raise rates as Europe's third-largest economy recovers at a brisk pace.

Other policies: With the British economy gradually returning to normal and the job market improving faster than predicted, policymakers have declined to pump more money into the economy. Like Fed Chair Janet Yellen, the Bank of England's governor, Mark Carney, has made clear that even when rates rise, they will do so only gradually.

— BANK OF JAPAN

Interest rates: The Bank of Japan and the government have unleashed an ultra-loose monetary policy, heavy government spending and economic reforms to try to sustain growth and help Japan break free from prolonged deflation — a period of falling prices — that tends to discourage spending and investment. The bank has kept its benchmark rate near zero.

Other policies: Governor Haruhiko Kuroda has told fellow central bank chiefs that the Bank of Japan plans to continue its "extremely accommodative monetary stance" until inflation has risen to the bank's 2 percent target. He said the bank's support could be expanded if necessary.

— RESERVE BANK OF AUSTRALIA

Interest rates: Has cut its benchmark rate to a record low 2.5 percent because of slower growth and high unemployment. The 2.5 percent policy rate is the lowest since the central bank was established in 1960. Some analysts think the Reserve Bank will eventually reduce rates further to try to invigorate the economy.