In July, Japan's monetary base increased by 1.0 percent year-over-year, surpassing the anticipated rise of 0.9 percent and accelerating from June's 0.6 percent growth, according to the Bank of Japan.
The circulation of banknotes decreased by 0.9 percent year-over-year, with coins in circulation dropping by 1.5 percent. However, current account balances posted an annual growth of 1.5 percent, driven by a 3.6 percent rise in reserve balances.
Moreover, the adjusted monetary base saw a 0.8 percent increase, recovering from a 6.5 percent decline in the previous month.
