The Bank of Japan released preliminary money stock figures for May 2026 showing M2 growth accelerated to 2.5 percent year on year and broadly defined liquidity L to 4.7 percent, while M3 was unchanged at 1.7 percent. Average amounts outstanding were JPY 1,298.1 trillion for M2, JPY 1,642.4 trillion for M3 and JPY 2,334.5 trillion for L. M1 rose 0.3 percent from a year earlier. Currency in circulation fell 1.1 percent and deposit money rose 0.4 percent, while quasi-money increased 5.0 percent and certificates of deposit 1.9 percent. Other components of L rose 12.9 percent for pecuniary trusts, 11.9 percent for investment trusts, 17.2 percent for government securities and 3.7 percent for foreign bonds. The release also includes revisions to figures starting in January 2024.
Bank of Japan2026-06-09
Bank of Japan releases preliminary May money stock figures showing M2 up 2.5 percent and broad liquidity L up 4.7 percent
The Bank of Japan released preliminary May 2026 money stock data showing year-on-year growth of 2.5 percent for M2, 1.7 percent for M3 and 4.7 percent for broadly defined liquidity L, with average outstanding amounts of JPY 1,298.1 trillion, JPY 1,642.4 trillion and JPY 2,334.5 trillion. The data show modest increases in M1 components and strong growth in pecuniary trusts, investment trusts, government securities and foreign bonds within L. The release also includes revisions to figures from January 2024.