Japan's monetary base, or cash in circulation, declined for the first time in 18 years in 2025 as the central bank weaned off massive policy support, data showed on Tuesday, a trend that is likely to persist as it proceeds with policy normalisation. The Bank of Japan (BOJ) ended a decade-long stimulus last year, consisting of huge asset buying, negative short-term interest rates and a bond yield control, citing that the economy was on the cusp of sustainably achieving its 2 per cent inflation goal. It has since slowed purchases of Japanese government bonds (JGB) and terminated a funding scheme that incentivised ... (full story)