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Monetary base renews record high www3.nhk.or.jp
Japan's monetary base renewed a record high for the 11th consecutive month. It remained above the 400-trillion-yen mark in October, due to continued monetary easing by the central bank.
The monetary base is the total amount of cash in circulation plus commercial-bank deposits held at the Bank of Japan.
BOJ officials say the monetary base at the end of October stood at nearly 418 trillion yen, or about 4 trillion dollars at the current rate.
The figure was up about 4.8 trillion yen from a month earlier.
In an effort to achieve a 2-percent inflation target, the BOJ has been pouring massive amounts of funds into financial institutions by purchasing government bonds and other assets.
But BOJ policymakers on Tuesday pushed back the forecast date for achieving the inflation target, saying it will likely be reached "around fiscal 2018."
Analysts say this is a sign that the massive supply of funds into financial institutions is not helping lift prices.
Published Date:2016-11-02
