The M2 money stock in Japan was up 3.0 percent on year in December, the Bank of Japan said on Wednesday – coming in at 921.1 trillion yen.

That was shy of forecasts for a gain of 3.3 percent, which would have been unchanged from the November reading.

The M3 money stock was up an annual 2.5 percent to 1,239.3 trillion yen – also below estimates for 2.7 percent, which would have been unchanged.

The L money stock gained 3.6 percent on year to 1,637.1 trillion yen, slowing from the 4.0 percent jump in the previous month.

For the fourth quarter, M2 was up 3.3 percent on year, while M3 gained 2.7 percent and L climbed 3.9 percent.

For all of 2015, M2 gained 3.7 percent, while M3 add 3.0 percent and L was up 4.1 percent.

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