Track the JN Overnight Call Rate, a key influencer of JPY valuation and forex trends.
Short-term interest rates play a crucial role in determining currency value. Traders often analyze other indicators primarily to forecast future rate changes. The BOJ used this rate as its primary operating target from March 2006 until its discontinuation in April 2013.
What it Measures
The interest rate at which the BOJ rediscounts bills and provides loans to financial institutions.
Usual Effect
When the 'Actual' rate exceeds the 'Forecast', it is typically favorable for the currency.
Source & Frequency
Bank of Japan (latest release) - https://www.boj.or.jp/en/index.htm/ • Variable, approximately 14 times a year.
How Data is Derived
BOJ Policy Board members come to a consensus on where to set the rate
Also Known As
Interest Rates
Acronym
Bank of Japan (BOJ)