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Japan''s monetary base at record high

TOKYO, July 2 (KUNA) -- Japan's monetary base jumped 36.0 percent in June from a year earlier to JPY 163.54 trillion (USD 1.6 trillion), marking an all-time high for the fourth straight month, the central bank said, Tuesday.
The monetary base, which comprises money supplied to the markets by the Bank of Japan (BOJ), including cash in circulation and commercial banks' deposits held at the BOJ's current accounts, also grew for the 14th month in a row.
An expansion in the monetary base has inflationary effect.
The BOJ vowed in April to double the monetary base in two years, chiefly through the purchases of government bonds from financial institutions and money market operations, to overcome the country's deflation that has lasted for nearly 15 years.
The central bank aims to increase the monetary base at an annual pace of about JPY 60-70 trillion (USD 600-700 billion).(end) mk.wsa KUNA 020945 Jul 13NNNN