Japan’s monetary base stood at a record-high 358.76 trillion yen ($2.97 trillion) at the end of January, up 28.8 percent from a year earlier, as the Bank of Japan continued to provide more liquidity to bolster inflation, BOJ data showed Tuesday.
The monetary base reached an all-time high for the second consecutive month, as the BOJ continues trying to eliminate lingering deflationary pressure on the economy with its drastic quantitative easing.
The balance of financial institutions’ current account deposits at the central bank, the biggest part of the monetary base, came to 259.29 trillion yen, up 40.2 percent.
Under the current stimulus measures, the BOJ aims to boost the monetary base at an annual pace of about 80 trillion yen.
The BOJ last week announced a further loosening of its monetary policy, applying a negative interest rate to part of the accounts of financial institutions at the central bank.