— Japan Aug M3 Money Stock +2.1% Y/Y Vs July +1.9%
TOKYO (MNI) – Japan’s money stock, measured by the key M2
aggregate, rose 2.4% in August from a year earlier, after growing 2.2%
in the previous month, data from the Bank of Japan showed on Tuesday.
The August growth came in slightly higher than the average
economist forecast for +2.3% in an MNI survey. It was the highest level
since April 2012, when it was also up 2.6%.
In recent months, the M2 money growth peaked at +3.2% in December
2011.
The broader M3 money stock aggregate in August rose 2.1% on year,
after rising 1.9% in July.
Quasi-money — cash equivalents and other assets that are easily
convertible into cash — rose 0.6% in August from a year earlier after
rising 0.6% in July.
The narrow measure of money supply, M1, which consists of currency
in circulation and deposit money, rose 3.4% y/y in August after rising
3.1% in the previous month.
Certificates of deposit were up 6.2% in August after +7.5% in July.
tokyo@mni-news.com
** MNI Tokyo Newsroom: 81-3-6860-4822 **
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