Fatum, Rasmus; Hutchison, Michael - Center for Pacific Basin Monetary and Economic Studies, … - 2002
intervention has not been available for Japan. This paper investigates the effectiveness of intervention using recently published … of Japan and the Federal Reserve working in unison, give the highest success rate. During the period that the Bank of … Japan has reduced interbank rates to 0.5 percent and below (from September 1995), however, only one intervention operation …