受央行退出刺激计划影响 日本流通中的现金将18年来首次下降

Core Insights - Japan's monetary base is projected to decline for the first time in 18 years in 2025, indicating a gradual exit from large-scale policy support by the central bank [1] - The average balance of Japan's monetary base in 2025 is expected to decrease by 4.9% year-on-year, marking the first decline since 2007 [1] - As of December 2025, the average monetary base is estimated at 594.19 trillion yen (approximately 3.79 trillion USD), a year-on-year decrease of 9.8%, falling below the 600 trillion yen threshold for the first time since September 2020 [1] - Analysts anticipate that the downward trend in Japan's monetary base will continue as the central bank reduces bond purchases and advances interest rate hikes [1]