Japan's money supply up 2.1 percent in October

TOKYO (AFP) - Japan's key money supply index rose 2.1 percent in October from a year earlier, after growing a revised 2.0 percent in September, the Bank of Japan said in a preliminary report.
The index includes M2 money supply measurement, covering cash in circulation, ordinary bank deposits and non-negotiable time deposits, plus certificates of deposit.
Near money -- cash equivalents and other assets that are easily convertible into cash -- fell 1.3 percent after declining 1.4 percent in September, the central bank said.
The narrow measure of money supply, M1, rose 4.3 percent in October after expanding 4.0 percent in September while certificates of deposit grew 17.1 percent after increasing 22.6 percent.

11/09/2004 - 05:33 GMT - AFP