Japan’s October Monetary Base Falls 13.6% Year-on-Year

The slower contraction in Japan's monetary base suggests the pace of balance-sheet normalization may be easing, though the base is still shrinking at a double-digit annual rate. For crypto and RWA markets, this matters mainly as a liquidity signal: yen-denominated funding conditions and the BOJ's balance-sheet trajectory feed into global risk appetite. Whether the deceleration continues into subsequent readings is the open question, and any further narrowing of the decline would be worth tracking against broader liquidity trends.