Economic Buzz: Japan monetary base down 7.9% on year in October

The monetary base in Japan tumbled 7.9 percent on year in October, the Bank of Japan said on Wednesday - coming in at 616.598 trillion yen.

That was well shy of expectations for a decline of 4.8 percent following the 6.1 percent drop in September.

Banknotes in circulation fell 2.3 percent on year, while coins in circulation slipped 1.4 percent.

Current account balances stumbled 9.1 percent on year, including a 7.6 percent drop in reserve balances.

The adjusted monetary base was down an annual 17.9 percent at 618.463 trillion yen.

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