TOKYO: The Bank of Japan yesterday drained a total 1.6 trillion yen (US$13.6bil) from the banking system, reversing two days of fund injections as overnight call rates plunged after global markets stabilised.
The BoJ drained one trillion yen (US$8.5bil) in a bill selling operation to start later this session and expire on Thursday, after earlier absorbing 600 billion yen through bill selling to start this session and expire the next session.
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