Japan Monetary Base growth contracts more than expected to 7.8% versus 9% forecast

Source Fxstreet
  • Japan’s Monetary Base grew less than markets expected, slipping to 7.8%.
  • Markets expected an uptick to 9%.
  • Annualized Monetary Base growth hit 8.9% in November.

December’s YoY Japan Monetary Base slipped to 7.8% growth for the year ended December, coming in less than median market forecasts of 9%, and slipping further back from November’s annualized print of 8.9%.

The seasonally adjusted figure declined steeply, with the Monetary Base declining by 14.5% after cyclical factors were adjusted for.

Market Reaction

The USD/JPY is trading in a tight range at the intraday level, but the Yen appears to be giving up early ground on Friday as the US Dollar continues to push back towards 145.00 against the JPY.

USD/JPY Hourly Chart

About Japan’s Monetary Base

The Monetary Base released by the Bank of Japan is the "Currency Supplied by the BoJ" including all the JPY in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates. An acceleration of monetary base is considered as positive for the JPY, whereas a decline is seen as negative.
 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Financial Markets 2026: Volatility Catalysts in Gold, Silver, Oil, and Blue-Chip Stocks—A CFD Trader's OutlookGet a comprehensive financial market 2026 outlook exploring key economic drivers, volatility catalysts in gold, oil and stocks, and what the evolving economic outlook means for cfd trading strategies and risk management on global markets.
Author  Rachel Weiss
May 15, Fri
Get a comprehensive financial market 2026 outlook exploring key economic drivers, volatility catalysts in gold, oil and stocks, and what the evolving economic outlook means for cfd trading strategies and risk management on global markets.
placeholder
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Author  FXStreet
Sep 08, Tue
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
placeholder
Brent holds above $100 as tanker attacks tighten supply — but four forces are capping the rallyBrent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
Author  Irene Q.
Sep 10, Thu
Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
placeholder
US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.
Author  Irene Q.
Sep 11, Fri
US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.
placeholder
Gold Price Forecast: PPI and Oil Prices Fuel Inflation Concerns, Can CPI Change Gold's Direction?As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
Author  TradingKey
Sep 11, Fri
As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
Related Instrument
goTop
quote