TheMutaninterest rate is the un-collateralizedovernight call rate inJapan. It is the reference rate forJPY overnight unsecured transactions in the Japanese market. It was launched in July 1985[1] and it is the main tool for the transmission of theBank of Japan'smonetary policy. Mutan rate andTONA rate are the same things.
Bank of Japan publishes a provisional rate, rounded to three decimal places,[2] every business day around 17:15JST (or 18:15 JST for the last business day of the month).[3] A final result is published the following business day around 10:00 JST. The results published containweighted-average, highest, and lowest rate during the business day.[4]
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