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Key Tokyo money market rate stays at 0.02%.

TOKYO, April 26 Kyodo

The key Tokyo money market rate stood at 0.02% Wednesday morning, unchanged from the weighted average in late trading the previous day.

The Bank of Japan refrained from conducting its regular morning market operations, leaving the estimated bank reserves in its current account for the day 100 billion yen lower than Tuesday's level.

The bank reserve system is calculated to have a surplus of some 1 trillion yen, down slightly from the previous day.

On the Tokyo International Financial Futures Exchange, the September contract for three-month Euroyen rate futures yielded 0.285%, up 0.015 percentage point from late trading Tuesday.

Dealers said that while the volume of trading in the December contract rose notably Tuesday and led to views that the contract would soon replace the September contract as the benchmark, trading volume in the September contract was greater Wednesday morning.

No trading was seen in certificates of deposit.
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Publication:Japan Weekly Monitor
Date:May 1, 2000
Words:155
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