	japan to promote  rate liberalisation the bank of japan decided at a policy board meeting to promote further  rate liberalisation by lowering the minimum denomination of regulation free large deposits and by raising the  rate ceiling on money market certificates mmcs a central bank official said the new guideline will go into effect on april the bank said under the guideline the minimum denomination of regulation free large deposits will be lowered to mln yen from mln the  rate ceiling of mmcs with maturities of between one year and two years will be set at percentage point below the prevailing certificate of deposit rate the bank said but the ceiling on mmcs with maturities of one year or less will remain the same or percentage point below the cd rates the minimum denomination of mmcs will be lowered to mln yen from mln the bank also said time deposit rates will be lowered by point effective march in line with the half point cut in the official discount rate on february new  rates on two year and one year deposits at banks for example will be pct and pct per annum respectively demand deposit rates however will remain the same reuter 
