— Japan June M3 Money Stock +2.0% Y/Y Vs May +1.9%
TOKYO (MNI) – Japan’s money stock, measured by the key M2
aggregate, rose 2.2% in June from a year earlier, after growing at the
same pace in May (revised from +2.1%), data from the Bank of Japan
showed on Tuesday.
The June growth came in slightly higher than the average economist
forecast for +2.1%.
In recent months, 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 June rose 2.0% on year,
accelerating slightly from +1.9% in May, which was 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 0.4% in June from a year earlier after
rising 0.4% in May.
The narrow measure of money supply, M1, which consists of currency
in circulation and deposit money, rose 3.3% y/y in June after rising
3.0% in the previous month.
Certificates of deposit were up 7.8% in June after +11.0% in May.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
[TOPICS: M$J$$$,MMJBJ$,MAJDS$,M$A$$$]
