Japan Money Supply (M2 and Broadly-Defined Liquidity)
The money stock is the amount of money held by households, companies and local governments. M2 consists of cash and deposits at domestically licensed banks and similar institutions. Broadly-defined liquidity is a wider measure that also includes investment trusts, government bonds and other financial assets. This page shows the year-over-year growth of the monthly average outstanding amount.
📖 How to read this indicator
Money supply growth tends to rise when bank lending and government spending expand, and to slow when they contract. Japan's M2 has grown steadily for decades, so it is the change in the growth rate rather than its level that shows a shift in financial conditions.
calendar_monthAs of Sep 2026
· Unit: % (year-over-year)
M2
2.0
%
Broadly-defined liquidity
4.3
%
–
Data table
| Month | M2 | Broadly-defined liquidity |
|---|---|---|
| Sep 2026 | 2.0% | 4.3% |
| Aug 2026 | 2.0% | 4.4% |
| Jul 2026 | 2.1% | 4.5% |
| Jun 2026 | 2.2% | 4.6% |
| May 2026 | 2.5% | 4.7% |
| Apr 2026 | 2.3% | 3.9% |
| Mar 2026 | 2.0% | 2.8% |
| Feb 2026 | 1.7% | 2.6% |
| Jan 2026 | 1.6% | 2.5% |
| Dec 2025 | 1.7% | 2.5% |
| Nov 2025 | 1.7% | 2.4% |
| Oct 2025 | 1.6% | 2.4% |
| Sep 2025 | 1.5% | 2.3% |
| Aug 2025 | 1.3% | 2.1% |
| Jul 2025 | 1.0% | 1.9% |
| Jun 2025 | 0.8% | 1.8% |
| May 2025 | 0.6% | 1.8% |
| Apr 2025 | 0.5% | 2.6% |
| Mar 2025 | 0.8% | 3.7% |
| Feb 2025 | 1.2% | 3.9% |
| Jan 2025 | 1.3% | 4.1% |
| Dec 2024 | 1.3% | 4.2% |
| Nov 2024 | 1.2% | 4.1% |
| Oct 2024 | 1.2% | 4.0% |
| Sep 2024 | 1.2% | 4.0% |
| Aug 2024 | 1.3% | 3.9% |
| Jul 2024 | 1.5% | 3.9% |
| Jun 2024 | 1.5% | 3.8% |
| May 2024 | 1.8% | 3.9% |
| Apr 2024 | 2.2% | 3.1% |
| Mar 2024 | 2.5% | 2.3% |
| Feb 2024 | 2.4% | 2.2% |
| Jan 2024 | 2.5% | 2.1% |
| Dec 2023 | 2.3% | 2.0% |
| Nov 2023 | 2.3% | 1.9% |
| Oct 2023 | 2.4% | 1.9% |
| Sep 2023 | 2.4% | 2.0% |
| Aug 2023 | 2.5% | 2.1% |
| Jul 2023 | 2.5% | 2.1% |
| Jun 2023 | 2.6% | 2.2% |
| May 2023 | 2.6% | 2.2% |
| Apr 2023 | 2.6% | 2.7% |
| Mar 2023 | 2.5% | 3.4% |
| Feb 2023 | 2.6% | 3.6% |
| Jan 2023 | 2.7% | 3.4% |
| Dec 2022 | 2.9% | 3.5% |
| Nov 2022 | 3.1% | 3.7% |
| Oct 2022 | 3.1% | 3.7% |
| Sep 2022 | 3.3% | 3.8% |
| Aug 2022 | 3.4% | 3.9% |