New Notes Swell Japan Monetary Base But Not Spending
New notes swell Japan monetary base but not spending
TOKYO, Dec 2 (Reuters) – Demand for new banknotes that went into circulation on Nov. 1 helped push up Japan’s monetary base, data showed on Thursday, but economists said it has yet to trigger consumer spending.
The monetary base — bills and coins in circulation plus current account deposits — was up 4.9 percent in November from the same month last year, Bank of Japan data showed. It was also higher than October’s year-on-year rise of 4.2 percent….
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