Money Stock M2 in Japan

Banco de Japon · Monthly · Importance 2

2.16% (Jul-26) YOY · % · Mensual · CSV

Period	%
Jul 2026	2.16%
Jun 2026	2.21%
May 2026	2.45%
Apr 2026	2.33%
Mar 2026	1.98%
Feb 2026	1.72%
Jan 2026	1.56%
Dec 2025	1.69%
Nov 2025	1.73%
Oct 2025	1.61%
Sep 2025	1.53%
Aug 2025	1.31%
Jul 2025	1.01%
Jun 2025	0.85%
May 2025	0.65%
Apr 2025	0.49%
Mar 2025	0.83%
Feb 2025	1.17%
Jan 2025	1.32%
Dec 2024	1.34%
Nov 2024	1.21%
Oct 2024	1.19%
Sep 2024	1.24%
Aug 2024	1.32%
Jul 2024	1.45%
Jun 2024	1.47%
May 2024	1.85%
Apr 2024	2.21%
Mar 2024	2.54%
Feb 2024	2.45%
Jan 2024	2.46%
Dec 2023	2.32%
Nov 2023	2.26%
Oct 2023	2.39%
Sep 2023	2.39%
Aug 2023	2.46%
Jul 2023	2.49%
Jun 2023	2.60%
May 2023	2.64%
Apr 2023	2.57%
Mar 2023	2.55%
Feb 2023	2.56%
Jan 2023	2.70%
Dec 2022	2.94%
Nov 2022	3.13%
Oct 2022	3.06%
Sep 2022	3.28%
Aug 2022	3.42%
Jul 2022	3.40%
Jun 2022	3.31%
May 2022	3.15%
Apr 2022	3.45%
Mar 2022	3.47%
Feb 2022	3.55%
Jan 2022	3.62%
Dec 2021	3.72%
Nov 2021	3.99%
Oct 2021	4.21%
Sep 2021	4.21%
Aug 2021	4.66%

Period	100 millones de yenes
Jul 2026	12,970,074
Jun 2026	12,961,250
May 2026	12,980,901
Apr 2026	12,956,204
Mar 2026	12,795,038
Feb 2026	12,747,378
Jan 2026	12,790,601
Dec 2025	12,789,115
Nov 2025	12,766,866
Oct 2025	12,701,975
Sep 2025	12,708,455
Aug 2025	12,712,303
Jul 2025	12,696,115
Jun 2025	12,681,276
May 2025	12,670,430
Apr 2025	12,661,783
Mar 2025	12,546,125
Feb 2025	12,532,312
Jan 2025	12,594,584
Dec 2024	12,576,036
Nov 2024	12,549,271
Oct 2024	12,500,641
Sep 2024	12,517,047
Aug 2024	12,548,351
Jul 2024	12,569,139
Jun 2024	12,574,420
May 2024	12,588,866
Apr 2024	12,599,890
Mar 2024	12,443,081
Feb 2024	12,387,111
Jan 2024	12,430,886
Dec 2023	12,409,742
Nov 2023	12,399,055
Oct 2023	12,353,137
Sep 2023	12,363,619
Aug 2023	12,385,266
Jul 2023	12,388,936
Jun 2023	12,392,324
May 2023	12,360,428
Apr 2023	12,326,939
Mar 2023	12,134,406
Feb 2023	12,091,386
Jan 2023	12,132,455
Dec 2022	12,128,301
Nov 2022	12,124,935
Oct 2022	12,064,408
Sep 2022	12,075,500
Aug 2022	12,088,202
Jul 2022	12,088,016
Jun 2022	12,078,178
May 2022	12,042,833
Apr 2022	12,018,499
Mar 2022	11,833,171
Feb 2022	11,789,009
Jan 2022	11,813,179
Dec 2021	11,782,086
Nov 2021	11,756,672
Oct 2021	11,705,647
Sep 2021	11,691,501
Aug 2021	11,688,405

About this indicator

Source	Bank of Japan (BoJ)
Frequency	Monthly
Release	Alrededor del noveno dia habil del mes siguiente (08:50 JST)
What it is	M2 measures the money held by Japan's non-bank private sector: currency in circulation plus deposits (demand, time and savings) and certificates of deposit at domestic banks. It is released monthly by the Bank of Japan; the former 'M2+CD' aggregate now corresponds to this M2.
How it's calculated	It is computed as the average of daily outstanding balances over the month. The year-on-year growth rate compares that average with the same month a year earlier and is the figure usually tracked.
Market implications	Sustained M2 growth points to more liquidity and spending power and is watched as a signal of medium-term price pressures and of the transmission of Bank of Japan policy. After years of ultra-low rates, its dynamics help gauge how effective monetary stimulus has been.
Limitations	The link between M2 and inflation or activity has weakened, especially in Japan, making it an unreliable short-term signal. It does not capture broader aggregates (M3, L) or the velocity of money, and it rarely moves markets.