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Japan's cash in circulation falls for 1st time since 2012 - BOJ

10/03/2022 | 08:00pm EST
FILE PHOTO: Illustration picture of Japanese yen banknotes

TOKYO (Reuters) - Japan's monetary base, or the amount of cash circulating in the economy, fell 3.3% in September from a year earlier, data showed on Tuesday, marking the first year-on-year decline since April 2012.

The data highlights a turning point in Bank of Japan (BOJ) Governor Haruhiko Kuroda's massive asset-buying programme deployed in 2013, which aimed at firing up inflation to his 2% target with heavy money printing.

The drop, which followed a 0.4% rise in August, reflected shrinking demand under the BOJ's pandemic-relief scheme, which was created in 2020 to ease funding strains caused by the crisis and will be phased out next year.

(Reporting by Leika Kihara; Editing by Christopher Cushing)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.07% 91.676 Delayed Quote.9.16%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.73% 166.557 Delayed Quote.6.01%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.62% 100.613 Delayed Quote.9.48%
EURO / JAPANESE YEN (EUR/JPY) 1.18% 143.466 Delayed Quote.8.20%
INDIAN RUPEE / JAPANESE YEN (INR/JPY) 1.23% 1.671123 Delayed Quote.6.83%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.22% 86.3 Delayed Quote.9.40%
US DOLLAR / JAPANESE YEN (USD/JPY) 1.57% 136.609 Delayed Quote.16.70%
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