Japan's monetary base rises 3.6% on year in June

10:10, July 02, 2010      

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Japan's monetary base rose in June from a year earlier, the Bank of Japan (BOJ) said in a report on Friday.

According to the central bank, a 3.6 percent rise was logged in the recording month standing at 97.024 trillion yen (1.10 trillion U.S. dollars) -- this follows a 3.7 percent increase on year in the previous month.

The number of banknotes in circulation edged up 0.7 percent on year, while coins in circulation declined 0.3 percent, the BOJ said.

Current account balances shot up 21.7 percent, with a 15.3 percent jump in reserve balances, the bank said.

On a seasonally adjusted bases, the monetary base declined to 97.346 trillion yen (1.11 trillion U.S. dollars) in June, a slip on year of 1.6 percent.

The BOJ noted that for the second quarter of this year the monetary base increased 3.4 percent from a year earlier and rose 6. 8 percent on a seasonally adjusted basis.

Japan's monetary base refers to the amount of currency that is either circulated in the hands of people living in Japan or in domestic commercial bank deposits held in the central bank's reserves. This measure of the money supply typically only includes the most liquid currencies.

The Japanese administration maintains a measure of control over the monetary base by buying and selling government bonds in the open market.

Source: Xinhua


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