The nation’s monetary base stood at ¥262.69 trillion at the end of November, up 37.1 percent from a year earlier and a record high for the fourth straight month, as the Bank of Japan provides extra liquidity to boost the economy, BOJ data showed Tuesday.
The bank raised the pace of supplying funds after it moved to take additional monetary easing steps in late October to help meet its goal of boosting inflation to 2 percent. The BOJ aims to boost the monetary base at an annual pace of about ¥80 trillion, up from ¥60 trillion to ¥70 trillion in its previous policy.
The economic recovery has been slow due to the lingering impact of the April consumption tax hike. Price increases remain limited due in part to sluggish demand.
At the end of last month, the balance of financial institutions’ current account deposits at the BOJ amounted to ¥170.28 trillion, up 66.3 percent from a year before.
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