Money Market Operations in Fiscal 2003

Financial Markets Department
Additional contact information
Financial Markets Department: Bank of Japan

No 2004-08-31, Bank of Japan Research Papers from Bank of Japan

Abstract: In fiscal 2003, the Bank of Japan changed the target level for current account balances held at the Bank five times, raising it by 15 trillion yen in total. To achieve the target and maintain stability in the money market, the Bank conducted money market operations appropriately by carefully monitoring money market conditions and market participants' bidding in response to the Bank's operations. Autonomous factors such as the flow of treasury funds and banknotes contributed to the increase in current account balances. In such a situation, the target level for current account balances, which had been raised significantly, was steadily achieved and the money market remained generally stable throughout the fiscal year.

Date: 2004-08-31
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.boj.or.jp/en/research/brp/ron_2004/data/ron0408a.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:boj:bojron:04-e-0831

Access Statistics for this paper

More papers in Bank of Japan Research Papers from Bank of Japan Contact information at EDIRC.
Bibliographic data for series maintained by Bank of Japan ().