TOKYO (AFX-ASIA) - The most widely watched measure of money supply, M2+CDs, rose 1.6 pct year-on-year in November, following a 1.5 pct increase in October, a 1.8 pct rise in September and a 2.0 pct rise in August, the Bank of Japan said in a preliminary report.
M2 money supply covers cash in circulation, ordinary bank deposits, time deposits and certificates of deposit.
Near money -- cash equivalents and other assets that are easily convertible into cash -- declined 1.2 pct year-on-year in November, after shrinking by 1.3 in October, 1.0 pct in September and 0.7 pct in both July and August.
The narrow measure of money supply, M1, increased 5.3 pct, after expanding by 5.5 pct in October, 5.7 pct in September and 5.4 pct in August.
Certificates of deposit declined by 14.3 pct, after dropping by 16.6 pct in October, 15.9 pct in September and 11.5 pct in August.