Money Supply in August 2014
Publication date: 12-09-2014
NBP Data: Money supply M3 in August increased by over PLN 18bn to the level of PLN 1.02bn. The largest growth in deposits was noted by non-monetary financial institutions. Corporate de-posits also rose significantly, as did – to a lesser degree – household deposits. There was a marked increase in lending to businesses. The growth of household debt was in large part the result of the weakening of the zloty.
Preliminary data on money supply, posted by NBP on 12 September, show that in August in month-on-month terms, money stock increased. The M3 aggregate, which reflects the total money supply, amounted to PLN 1.02bn at the end of the month, an increase of PLN 18bn on the figure seen at the end of July.
One of the largest increases in deposits in recent years was noted among non-monetary financial institutions. The value of their deposits increased in August 2014 by PLN 7.8bn to reach PLN 56.5bn. The value of corporate deposits rose by almost PLN 5.5bn and reached PLN 205.4bn. Savings in the household sector also rose – by PLN 2.2bn to reach the level of PLN 566.1bn.
The debts of households increased by PLN 5.6bn to reach the level of PLN 587.1bn. However, most of this increase was due to the weakening of the zloty. In real terms, household credit grew by ap-proximately PLN 2.4bn. However, the level of corporate debt increased significantly by almost PLN 5.4bn to reach the level of PLN 297.1bn. A slightly smaller increase in debt was also observed among non-monetary financial institutions, whose liabilities rose by PLN 2.2bn, reaching almost PLN 47.7bn.
See full money supply date in August 2014.