The M2 money stock was up 3.3 percent on year in March, the Bank of Japan said on Monday - coming in at 1,046.0 trillion yen.
That exceeded expectations for an increase of 2.9 percent following the 3.0 percent gain in February.
The M3 money stock climbed an annual 2.7 percent to 1,380.6 trillion yen versus expectations for a gain of 2.4 percent and down from 2.5 percent in the previous month.
The L money stock was up 2.7 percent on year to 1,835.5 trillion yen, slowing from the 2.8 percent gain a month earlier.
For the first quarter of 2020, M2 was up 3.0 percent on year, while M3 added 2.5 percent and L rose 2.8 percent.