Japan Prints Additional ¥10,000 Bills As People Scramble To Stash Away Cash
by Tyler Durden
ZeroHedge.com
04/07/2016
Call it the total failure of Japan’s monetary policy: Japan’s Finance Ministry plans to increase the number of ¥10,000 bills in circulation, amid signs that more people are hoarding cash. It will print 1.23 billion such notes in fiscal 2016, 180 million more than a year earlier. The number of ¥10,000 bills issued annually leveled off at around 1.05 billion in the fiscal years from 2011 to 2015. The reason: the total amount of cash stashed at home is estimated to have surged by nearly ¥5 trillion to some ¥ Rest…HERE40 trillion in the past year, Hideo Kumano, chief economist at Dai-ichi Life Research Institute, said.
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