Narodowy Bank Polski

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Money supply in February

Publication date: 14-03-2014

NBP data: The M3 money supply grew by 0.6%, in nominal terms, in February 2014. The level of both household and corporate bank debt did not change significantly.

According to preliminary data on money supply released by NBP on March 14, the stock of money increased in February, in monthly terms. At the end of February the M3 aggregate, which reflects the total money supply, amounted to PLN 968.6 billion and was by 0.6% higher than at the end of January.

Household deposits, which rose by 1.0% (by almost PLN 5.5bn) to PLN 555.2bn, were the primary component of M3 responsible for a monthly increase in the M3 money supply. Deposits of local governments also rose markedly (by PLN 3.8bn) as they receive more government subsidies in January than over the subsequent months of a year. On the other hand, corporate deposits shrank somewhat. At the end of February they stood at PLN 191.0bn, which represents a fall of 0.5% or PLN 0.9bn.

Corporate debt from bank loans rose by 0.4% to PLN 280.1bn in February. Household bank debt dropped by 0.1% to PLN 567.5bn at the end of the month, and after adjusting for the impact of exchange rate differences, it grew by 0.3%.

See full money supply date in February 2014.

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Reference rate 1.50
Lombard rate 2.50
Deposit rate 0.50
Rediscount rate 1.75

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Table of 2016-07-01
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