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Key money rate flat at 0.02% in Tokyo+.

TOKYO, March 17 Kyodo

The key unsecured overnight call money rate was unchanged at 0.02% on the Tokyo money market Friday morning from Thursday's weighted average.

The Bank of Japan (BOJ) drained 600 billion yen from the market by selling bills under repurchase agreements.

Market players said the market is calculated to have a surplus of 1.05 trillion yen, down from the 1.2 trillion yen surplus the previous day, but nonetheless exceeding the usual 1 trillion yen.

The BOJ stopped announcing the fund surplus as of Thursday in a move to direct market attention away from its daily operations and prevent speculation from growing about changes in its monetary policy.

The key three-month September Euroyen rate futures contract yielded 0.360% on the Tokyo International Financial Futures Exchange, down 0.025 percentage point from late trading the previous day.

No trading was seen in three-month certificates of deposit on the primary market.
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Comment:Key money rate flat at 0.02% in Tokyo+.
Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Mar 20, 2000
Words:155
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