Narodowy Bank Polski

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Money supply in August 2015

Publication date: 14-09-2015

NNBP data: August saw a moderate rise in the M3 money supply. This was driven mainly by an increase in the level of household and corporate deposits.

According to preliminary data on money supply, released by Narodowy Bank Polski on 14 September 2015, the stock of money increased again in August. At the end of the month, the M3 aggregate amounted to PLN 1,095.2 billion. This represented an increase of PLN 7.1 billion (i.e. 0.7%) on the end-of-July figure.

According to preliminary data, the rise in M3 money supply in August was mainly caused by an increase in the level of household and corporate deposits. The largest increase in money supply was noted in household deposits. Their value increased by PLN 4.6 billion (i.e. 0.7%) to PLN 617.9 billion. The value of corporate deposits also grew, increasing by PLN 2.3 billion (i.e. 1.0%) to PLN 224.4 billion.

According to preliminary data, lending by banks to corporates and households had the greatest positive impact on the M3 money supply. Banks’ claims on corporates rose by PLN 6.2 billion (i.e. 2.0%) to the level of PLN 320.1 billion. Banks’ claims on households grew by a much smaller amount. They increased by PLN 2.7 billion (i.e. 0.4%) to PLN 625.6 billion.

However, a slight decrease in the net debt of central government institutions contributed to the absorption of money. It decreased by PLN 1.8 billion (i.e. 1.1%) to PLN 162.3 billion.

See full money supply data, August 2015

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