BoJ Withdraws 200 Bn Yen From Financial System
The Bank of Japan drained 200 billion yen ($1.7 billion) from the financial system after central banks in the U.S. and Europe yesterday offered extra cash to institutions to help cut the cost of credit.
Japan’s rate for overnight call loans between commercial banks and other financial institutions rose to 0.49 percent as of 9:20 a.m. in Tokyo from 0.42 percent yesterday, according to brokerage company Tokyo Tanshi Co. That compares with the central bank’s target rate of 0.5 percent.
