— Japan Mar M3 Money Stock +2.6% Y/Y Vs Feb Unrev +2.5%
TOKYO (MNI) – Japan’s money stock, measured by the key M2
aggregate, rose 3.0% in March from a year earlier, with the pace of
growth accelerating from an unrevised 2.9% rise in February, data from
the Bank of Japan showed on Thursday.
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 March matched a record high
of 2.6% y/y posted in January and December 2011, after rising 2.5% in
February.
Quasi-money — cash equivalents and other assets that are easily
convertible into cash — rose 0.7% in March from a year earlier after
rising 0.6% in February.
The narrow measure of money supply, M1, which consists of currency
in circulation and deposit money, rose 4.4% y/y in March after rising
4.9% in February.
Certificates of deposit were up 7.1% in March after falling 0.5% in
February.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4835 **
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