Japan's monetary base fell 15.7 percent in August as bank balances shrank

Japan's monetary base fell 15.7 percent from a year earlier in August, deepening from a 13.8 percent decline in July, the Bank of Japan's Wednesday release showed.

The base averaged 543.0 trillion yen, down from 554.9 trillion in July. Current-account balances held at the central bank fell 18.9 percent over the year to 423.4 trillion yen, while reserve balances within them fell 18.0 percent.

Cash barely moved. Banknotes in circulation fell 2.0 percent from a year earlier and averaged 115.0 trillion yen. Coins fell 1.2 percent.

The Bank's seasonally adjusted measure fell at a 28.8 percent annualized rate from July. That compares with an 8.7 percent annualized decline the month before. The release is a statistical table and gives no explanation for either movement.