Japan's monetary base hits record in February

Japan's monetary base in February hit a record high for the 12th straight month to 201.32 trillion yen (about 1.98 trillion U.S. dollars) , a 55.7-percent jump from a year earlier, under a bold monetary easing policy by the Bank of Japan (BOJ), local media reported Tuesday. According to BOJ data, Japan's monetary base at the end of last month stood at 204.75 trillion yen (around 2.02 trillion dollars), the highest level ever, adding the average daily balance of liquidity provided by the BOJ grew for the 22nd straight month, said Kyodo News. The balance of current account deposits of the country increased to 111.25 trillion yen (about 1.10 trillion dollars). The BOJ seeks to double the monetary base within two years in a move to combat Japan's prolonged deflation and it has introduced bold monetary easing policy in April last year targeting the goal.