Japan’s monetary base stood at a record-high 325.74 trillion yen ($2.63 trillion) at the end of July, up 33.9 percent from a year earlier, as the Bank of Japan continued to provide more liquidity to raise the inflation rate to its targeted 2 percent, BOJ data showed Tuesday.
The monetary base reached an all-time high for the 12th straight month. The central bank took additional monetary easing steps last October to raise the pace of supplying funds.
The balance of financial institutions’ current account deposits at the BOJ, the biggest part of the monetary base, came to 230.07 trillion yen, up 51.3 percent.
Under the current stimulus measures, the BOJ aims to boost the monetary base at an annual pace of about 80 trillion yen, up from 60 trillion to 70 trillion yen under its previous policy.
The BOJ has been trying to get rid of lingering deflationary pressure on the economy with its drastic quantitative easing.