Narodowy Bank Polski

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Money supply in August 2012

Date: 14-09-2012

NBP data: Slight increase in bank deposits of households; marginal rise in the number of loans to individuals. Annual growth in corporate lending amounted to 13% in August.

According to the NBP monthly information released on 14 September 2012, in August M3 supply growth stood at 0.7%, in annual terms – 9.5%. The volume of cash in circulation remained unchanged in August, totalling PLN 103.0 billion. Household bank deposits increased by PLN 3.5 billion in August, which is a lower increase than a year before. Annual growth in this category of deposits equalled 11.9%.

Lending to households remains weak. The value of loans in this segment of the market grew by 0.9%, however taking into account the changes in exchange rates, this growth amounted to a mere 0.2%.

Corporate bank deposits decreased by 0.1% in August, which confirms the trend observed since the beginning of the year. In August, corporate loans increased by 0.9%, and their annual growth equalled 13.0%. NBP analysts point to the fact that this year large enterprises tend to fund their activities with the issue of debt securities more eagerly than before.

See: full money supply data, August 2012

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Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

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Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa

+48 22 185 10 00
NIP: 525-000-81-98
REGON: 000002223
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