— Japan July M3 Money Stock +1.9% Y/Y Vs June Revised +1.9%
TOKYO (MNI) – Japan’s money stock, measured by the key M2
aggregate, rose 2.2% in July from a year earlier, after growing at the
same pace in the previous two months, data from the Bank of Japan showed
on Thursday.
The July growth came in line with the average economist forecast
for +2.2%.
In recent months, the M2 money growth peaked at +3.2% in December
2011, which was the highest rise since November 2009, when M2 was up
3.3%.
The broader M3 money stock aggregate in July rose 1.9% on year,
after rising 1.9% (revised from +2.0%) in June. The rate of increase
remained the slowest since February 2011, when it was up 1.8%.
Quasi-money — cash equivalents and other assets that are easily
convertible into cash — rose 0.6% in July from a year earlier after
rising 0.3% in June.
The narrow measure of money supply, M1, which consists of currency
in circulation and deposit money, rose 3.1% y/y in July after rising
3.3% in the previous month.
Certificates of deposit were up 7.7% in July after +7.6% in June.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
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