Bank of Japan intervenes in money markets

The Bank of Japan has intervened in the money markets in the last two days in an apparent move to halt the increase in interest rates by spending Y2,000bn buying nine month bills from commercial banks.

Source: Reuters

The Bank of Japan yesterday intervened in money markets, apparently trying to reverse a rise in interest rates which threatened to hamper the country's economic revival.

The central bank has spent Y2,000bn ($17bn, €15.7bn, £10.8bn) buying nine month bills from commercial banks in t