The balance of monetary base, or the amount of cash in circulation and deposits at the Bank of Japan, increased 2.7%
The central bank has been injecting cash into the banking sector to boost lending to businesses and consumers hit by the coronavirus pandemic.
The Bank of Japan left its short-term interest rate unchanged at -0.1% during an emergency meeting on May 22nd, but launched a new lending program worth JPY 30 trillion to support the economy.