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M3 money stock hits record high

Jiji Press TOKYO (Jiji Press) — The nation’s M3 money stock hit a record high for the third straight month in June, thanks chiefly to growth in bank lending, Bank of Japan data showed Tuesday.

The average daily balance of the M3 measure, which covers cash in circulation, demand and time deposits, and certificates of deposit, grew 2.7 percent from a year before to ¥1,336.6 trillion, the central bank said in a preliminary report.Speech

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