2023.03.0123:05:00UTC+00Japan Monetary Base Sinks 1.6% On Year In February

The monetary base in Japan was down 1.6 percent on year in February, the Bank of Japan said on Thursday, coming in at 646.440 trillion yen.

That beat forecasts for a drop of 3.2 percent following the 3.8 percent decline in January.

Banknotes in circulation rose 2.6 percent on year, while coins in circulation slumped 3.8 percent. Current account balances fell an annual 2.5 percent, including a 3.6 percent drop in reserve balances.

The adjusted monetary base was up 31.1 percent on year to 657.838 trillion yen, slowing from 43.8 percent in January.