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Japan's monetary base rises 13.5 pct in December

01-05-2012 14:14 BJT

TOKYO, Jan. 5 (Xinhua) -- The monetary base in Japan rose 13.5 percent on year in December 2011, the Bank of Japan (BOJ) said in a report on Thursday.

The average daily balance of the monetary base stood at 1.180 trillion yen (15.37 billion U.S. dollars) and follows a 19.5 percent annual rise logged a month earlier, the central bank said.

Banknotes in circulation were up 2.3 percent on year, while coins in circulation increased 0.2 percent, the bank's data showed.

The BOJ report also showed that current account balances leapt 61.3 percent on year, with reserve balances gaining 62.5 percent.

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

The central bank's recent easing of monetary policies has aided an ongoing increase in Japan's monetary base.

On a seasonally-adjusted basis, the monetary base in December 2011 was down 43.3 percent on year to 1.155 trillion yen and for the fourth quarter of 2011 it rose 16.6 percent on year, the latest BOJ data showed.

The BOJ also said that for the year 2011 the monetary base rose an annual 15.2 percent.

 

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Editor:Bai Yang |Source: Xinhua

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