Narodowy Bank Polski

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Money supply in March

Publication date: 14-04-2014

NBP data: In March 2014, the M3 money supply grew, in nominal terms, by 1.1%. Deposits of households and corporates increased, and so did their bank debt.

According to preliminary data on money supply released by Narodowy Bank Polski on 14 April, the stock of money increased in March, in monthly terms. At the end of March, the M3 aggregate, which reflects the total money supply, amounted to PLN 979.5 billion and was by 1.1% higher than at the end of February.

Corporate deposits, which rose by 1.7% (PLN 3.3bn) to PLN 194.3bn, were the primary component of M3 responsible for a monthly increase in the M3 money supply. Household deposits also increased. At the end of March, they stood at PLN 557.8bn, which represents a rise of 0.5% or PLN 2.6bn. Deposits of local governments also grew markedly in the month under review (by PLN 2.5bn) to PLN 31.5bn.

The sectoral breakdown shows that the highest debt growth, by PLN 4.4bn, was reported by non-monetary financial institutions.

In March, banks’ claims on corporates rose by 1.2% (by PLN 3.3bn) to PLN 283.4bn. Household bank debt edged up by 0.4% (by PLN 2.2bn) and stood at PLN 569.4bn at the end of March.

See full money supply date in March 2014.

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