Japan's Money Supply Sees Record Growth Amid Shift to Investment Trusts

The Bank of Japan released preliminary money stock data for July 2026, showing a surge in investment trusts and a decline in cash currency.

M2 rose 2.2% year-on-year to ¥1,297 trillion (approximately $8.1 trillion), while M3 increased 1.4% to ¥1,641.2 trillion (approximately $10.3 trillion), marking the second-highest level on record.

Broadly-defined liquidity grew 4.4% to ¥2,338.4 trillion (approximately $14.7 trillion), hitting a new all-time high.