BOJ Begins Negative Rate, Releases Estimate of Funds Affected
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The Bank of Japan on Tuesday started charging 0.1 percent on a portion of the excess funds that financial institutions have in accounts at the central bank.
The negative interest rate would have applied to 23.2 trillion yen ($203 billion) if the policy had been in place last month, the bank estimated. While the new monetary tool took effect on Tuesday, figures for its application won’t be available until the middle of March.