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Data from Bank of Japan. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Monetary Base climbed to 15.0% in March 2013
Bank of JapanMonthlyReleased March 2013
Japan Monetary Base climbed to 15.0% in March 2013, up 4.1% from February's 10.9% reading. The print exceeded the 11.5% consensus by 3.5%.
Latest Release
15
Actual
11.5
Consensus
10.9
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▼ Inverse | −0.50 | FOREX | Bullish JPY | → View |
| EUR/JPY | ▼ Inverse | −0.45 | FOREX | Bullish JPY | → View |
| Nikkei 225 | ▲ Direct | +0.45 | INDEX | Bullish JP | → View |
| GBP/JPY | ▼ Inverse | −0.40 | FOREX | Bullish JPY | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Monetary Base (Japan) was reported at 15% in March 2013. This beat the market consensus of 11.5% by 3.5%. The reading rose from the previous value of 10.9%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/JPY (Bullish JPY). A secondary relationship exists with EUR/JPY, negatively correlated (Bullish JPY).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Housing Starts YoY (May 28) and Unemployment Rate (May 28).
Auto-generated from current model state · Refreshes on each release · Last update March 2013.
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Monetary Base - JP
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About Monetary Base — Japan
DEFINITION
The monetary base is a key financial indicator that measures the total amount of money in circulation within an economy. It includes physical currency, such as coins and banknotes, as well as commercial bank reserves held at the central bank. This indicator is closely monitored by economists and policymakers as it provides insight into the overall health and stability of a country's monetary system. Changes in the monetary base can have significant impacts on inflation, interest rates, and overall economic growth.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2013): actual 15 %, consensus 11.5 %.
WHAT'S NEXT
This indicator correlates most strongly with USD/JPY (Bullish JPY, r=-0.50) — a useful reference for forex-focused traders.