The monetary base in Japan was down 3.9 percent on year in July, the Bank of Japan said on Monday - coming in at 643.896 trillion yen. That follows the downwardly revised 3.5 percent annual decline in June (originally -3.3 percent). Banknotes in circulation were down 2.4 percent on year, while coins in circulation fell 1.4 percent. Current account balances shrank 4.3 percent on year, including a 2.2 percent decline in reserve balances. The adjusted monetary base was down 2.8 percent on year at 643.997 trillion yen