Money supply in November 2012
NBP data: Most indicators went up marginally. Growth rate of savings and loans continued to weaken. Government sector debt at domestic banks narrowed significantly.
According to the November money supply release, posted by the National Bank of Poland on 14 December 2012, as compared with the previous month’s figure, the M3 monetary aggregate increased by 0.1% to reach PLN 903.1 billion. Also the expansion of household and corporate deposits was slow as compared to November 2011. While household deposits grew by 0.7% m/m to reach PLN 505.2 billion, corporate deposits went up by 0.4% in nominal terms to stand at PLN 179.9 billion.
In November, bank debt of households mounted in nominal terms by 0.1%, up to PLN 540.2 billion, and, for the first time in many years the annual growth in household lending was negative ( -0.2%). As regards corporate lending its nominal growth stood at 0.2% whereas its annual growth stepped down to 5.2%.
There was a 10% decline in bank debt of investment and pension funds and insurance companies. The government sector reduced its debt at domestic banks by PLN 4.8 billion down to PLN 83.4 billion.
See: full data on money supply in November 2012