The Bank, in accordance with the guideline decided at the previous meeting on October 6 and 7, 2014, had been providing funds through purchases of Japanese government bonds (JGBs) and other measures. 3 In this situation, the amount outstanding of the monetary base had been in the range of 251-261 trillion yen. B. Recent Developments in Financial Markets In the money market, interest rates on both overnight and term instruments continued to be at low levels. The uncollateralized overnight call rate and general collateral (GC) repo rates had been at levels below 0.1 percent. As for interest rates on term instruments, ... (full story)