(RTTNews) - The monetary base in Japan jumped 3.7 percent on year in May, the Bank of Japan said on Wednesday, coming in at 98.432 trillion yen. That was sharply higher than analyst expectations for a 2.8 percent annual increase following the 2.9 percent gain in April.
Banknotes in circulation were up 0.6 percent on year, although coins in circulation eased an annual 0.4 percent.
Current account balances surged 22.9 percent on year, including an 18.6 percent annual spike in reserve balances.
Seasonally adjusted, the monetary base was up 12.4 percent to 97.479 trillion yen.
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