BoJ: money markets still edgy
Global money markets remained nervous in the first half of 2008, according to the newest financial markets report from the Bank of Japan.
Interbank rates rose due to the tightening of supply and demand conditions in US and European money markets.
But the uncollateralised overnight call rate, which determines the cost for overnight yen-denominated loans, was stable at around the central bank's target of 0.5%, meaning the turmoil in US and European money markets had only a limited impact on Japan
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