The total amount of bills that have been sold in the market for years, such as in personal wallets and corporate safes, reached a record high of about 118 trillion yen for 11 consecutive years.
As the outlook for the economy becomes more uncertain due to the effects of the new coronavirus, it seems that more individuals and companies are keeping money at hand.
According to the outstanding balance of bills issued by the Bank of Japan, the total amount of bills that have been sold in the market for years, such as in personal wallets and corporate safes, was 118,328.2 billion yen.
It increased by about 5% compared to a year ago and reached a record high for the 11th consecutive year.
With the BOJ's large-scale monetary easing, low interest rates continue, interest rates that can be deposited with financial institutions are low, and the new coronavirus has increased uncertainty about the future of the economy, so make more money at hand. It seems that the background is that the number of individuals and companies that want to keep it is increasing.