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Money Supply Down in April

Date: 14-05-2012

NBP data: In April, the amount of cash in the wallets of the public increased, while bank deposits – held by both corporates and households – decreased. Lending to corporates remained virtually unchanged.

Preliminary data on money supply in April 2012, published by the NBP on 14 May, show that the volume of the M3 aggregate decreased by 0.5% in comparison with the corresponding end-of-March figure. This is accounted for, above all, by a drop of PLN 5.4bn in corporate deposits.

For the first time, the amount of cash in circulation (outside the banks' vaults) has exceeded PLN 100bn and amounted to PLN 101.3bn. NBP analysts say that the increase in cash in circulation is typical the last days of April, when cash is drawn in anticipation of the extended weekend at the beginning of May.

Once again, the level of households' bank deposits sank. They totalled PLN 485.9bn, representing a 0.3% decrease on the previous month (and an increase of 11.8% on April 2010).

Households' bank debt increased by PLN 2.5bn in nominal terms (up to PLN 531.3 bn). Lending to corporates rose slightly (by PLN 0.2bn). In annual terms, these loans expanded by16.2%.

See full NBP data on money supply in April 2012


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