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Japan's monetary base up 5.8% in September

10-04-2010 11:50 BJT

TOKYO, Oct. 4 (Xinhua) -- The monetary base in Japan jumped 5.8 percent in September from a year earlier, rising for the 25th successive month, the Bank of Japan (BOJ) said in a report on Monday.

The average daily balance of the monetary base stood at 97.72 trillion yen (1.078 trillion U. S. dollars), with the current account deposit balance rising 38.4 percent to 16.61 trillion yen (199.23 billion U.S. dollars), according to the central bank's report.

Banknotes in circulation were up 1.0 percent to 76.60 trillion yen (918.81 billion U.S. dollars), although coins in circulation declined an annual 0.4 percent to 4.5 trillion yen (53.97 billion U.S. dollars), the BOJ said.

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 or selling government bonds in the open market.

The central bank's recent easing of monetary policies has caused the increase in September's monetary base, Tokyo-based economists said on Monday.

Editor:Zhang Jingya |Source: Xinhua

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