The stock brokerage said equities paused for a breather last week, triggered in part by China's move to raise its money market rates
to avert inflationary pressure.
Changes in money market rates
after the monetary policy meetings are used as an indication of whether the decisions surprised market participants.
The monthly average Money Market Rate
(MMR) in March is 7.90% compared to 7.28% in February and stagnation at the rate of 7.24% in the previous two months.
Japan's key money market rate
, which the Bank of Japan uses as tool to guide interest rates, stayed above the central bank's target level of 0.25 percent for the third consecutive business day Tuesday.
The key short-term money market rate
is likely to stay around 0.02% next week in a market that is expected to be calm.
Therefore, the daily money market rate
(MMR) rose to 7.85% from 7.24% the day before.
In its inflation reports, Norges Bank uses implied forward rates as the technical assumption for the three-month money market rate
. Since the calculated implied forward rates have maturities of less than three months, they are recalculated to a three-month moving average to facilitate comparison with three-month interest rates.
TOKYO, March 24 Kyodo Finance Minister Kiichi Miyazawa reiterated Wednesday his support for the Bank of Japan (BOJ) policy of guiding the key short-term money market rate
to nearly zero.
Summary: The overnight Money Market Rate
(MMR) increased during the April 18, 2018 session to 6.71%, which is close to the upper limit of the corridor: 6.75%.
The Bundesbank did not, in fact, reduce money market rates
during the second quarter, and the repurchase rate remained fixed at 3.3 percent.
Money market rates
were little changed last week after quarter-end and settlement pressures eased.
DESPITE an Open Market Operation (OMO) maturity of N109.4billion on Thursday, dealers expect money market rates
to remain at similar levels as the Central Bank of Nigeria (CBN) is anticipated to mop-up the liquidity via OMO auction.