TOKYO: Bank of Japan data revealed financial assets held by households as of the end of last December grew 3.0 percent year-on-year to a record high of ¥1.69 quadrillion.
For the sixth straight year, the year-end balance of assets rose, as per the data. The growth reflects a continued boost in cash and deposits after companies raised pay scales in 2014, as well as increased market values of stocks and investment trust funds on the back of the weakening yen and higher share prices.
The income environment improved but consumer spending and housing investment remained slightly weak, resulting in growth of household financial assets, an official of the BOJ’s research and statistics division said.
It also noted that the outstanding balance of Japanese government bonds, including treasury bills, at the end of 2014 rose 3.6 percent to a record-high ¥1.02 quadrillion due to a rise in JGB prices. JGB holdings by the BOJ jumped 39.5 percent to ¥256 trillion, as the central bank decided in October last year to expand its purchases as part of additional monetary easing. Already the largest single holder of JGBs, the bank saw its share of such holdings climb to 25.0 percent.
