The Mutan interest rate is the un-collateralized overnight call rate in Japan. It is the reference rate for JPY overnight unsecured transactions in the Japanese market. It was launched in July 1985[1] and it is the main tool for the transmission of the Bank of Japan's monetary policy. Mutan rate and TONA rate are the same things.

Publication

Bank of Japan publishes a provisional rate, rounded to three decimal places,[2] every business day around 17:15 JST (or 18:15 JST for the last business day of the month).[3] A final result is published the following business day around 10:00 JST. The results published contain weighted-average, highest, and lowest rate during the business day.[4]

See also

References

  1. ↑ BOJ's Main Time-series Statistics
  2. ↑ "Change in the smallest tick in uncollateralized overnight call rate". Bank of Japan. September 6, 2001. Retrieved June 25, 2012.
  3. ↑ "Revision of the publication of "Uncollateralized overnight call rates (average)". Bank of Japan. September 6, 2002. Retrieved June 25, 2012.
  4. ↑ "Release of the Data Related to the Bank's Operations and Uncollateralized Overnight Call Rate". Bank of Japan. May 6, 2004. Retrieved June 25, 2012.
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