Japan's monetary base registered the biggest drop on record -- 7.2 percent -- in April due to a sharp fall in the balance of current-account deposits held by financial institutions at the Bank of Japan, the central bank said Tuesday.
The average daily balance of the monetary base -- cash in circulation plus current-account deposits held at the central bank by financial institutions and Japan Post -- fell to 103.58 trillion yen in the reporting month, the BOJ said.