Japan Monetary Base Slumps 12.2% On Year In May

(RTTNews) - The monetary base in Japan was down 12.2 percent on year in May, the Bank of Japan said on Tuesday - coming in at 575.763 trillion yen.

That missed expectations for a decline of 9.5 percent following the 11.3 percent drop in April.

Banknotes in circulation fell an annual 1.7 percent, while coins in circulation dropped 1.1 percent.

Current account balances tumbled 14.7 percent on year, including a 12.7 drop among reserve balances.

The adjusted monetary base sank 13.3 percent on year to 567.785 trillion yen after slipping 5.6 percent in the previous month.