Japan's money stock rises 2.7% in February

11:34, March 08, 2010      

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A key measure of the amount of money available in Japan rose by 2.7 percent in February compared to the same month a year earlier, statistics released by the Bank of Japan (BOJ) showed on Monday.

Money stock figures released by the BOJ showed that M2, a measure that combines cash currency in circulation and deposits throughout the nation, stood at 763.6 trillion yen (8.45 trillion dollars) in February. The measure is made using data from all banks in Japan and combines the amount of money held by corporations, individuals and local governments. In January, M2 stood at 766.8 trillion yen (8.48 trillion dollars) after figures were revised.

The nation's M3 money supply, which adds together M2 with institutional money-market funds, short-term repurchase agreements and other larger liquid assets, rose by 2.0 percent compared with a year earlier, and stands at 1,063 trillion yen (11.76 trillion dollars).

M1, which consists of money in circulation as well as demand deposits grew by 0.9 percent to 482.7 trillion yen (5.34 trillion dollars).

Japan's economy has struggled since the economic downturn started in the second half of 2008, and since then a large amount of money has remained in circulation as corporations remain cautious on investment.

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