Q&A: New procedures for BoJ money mkt operations

ARTICLE - The Bank of Japan has published a short question and answer article about its new procedures for money market operations which started on Mar 19, 2001. It says that although the procedures are intended to produce the same effects as the "Zero interest rate policy" which was in place until August 2000, the present operations preserve the use of the market mechanism as much as possible.

Q1: Please explain the new procedures in which the outstanding balance of the current accounts at the

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