Narodowy Bank Polski

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Money supply in May 2016

Publication date: 14-06-2016

NBP data: In May 2016, the M3 money supply grew by PLN 10.0bn. Banks’ liabilities towards enterprises, local government institutions and households were the M3 elements primarily responsible for the growth.

Preliminary data released by NBP on 14 June 2016 show that in May 2016 the M3 aggregate, which shows the total money supply, amounted to PLN 1,188.4bn at the end of the month and was higher by PLN 10.0bn (i.e. 0.9%) than at the end of April 2016. May 2015 saw an identical increase in money supply.

In May 2016, the highest rise was registered in corporate deposits – an increase of PLN 4.9bn, (i.e. 2.1%) to the level of PLN 242.2bn. The value of household deposits rose by PLN 2.4bn (i.e. 0.4%) to PLN 668.0bn. Deposits of local government institutions also increased – by PLN 3.0bn (i.e. 9.3%) to PLN 35.8bn.

The rise in the M3 money supply was driven by a PLN 1.2bn (i.e. 0.5%) increase in the net debt of central government institutions to PLN 216.7bn and lending provided by banks to households – their debt grew by PLN 0.9bn (i.e. 0.1%) to PLN 646.3bn. On the other hand, corporate debt dropped by PLN 1.0bn (i.e. 0.3%) to PLN 335.2bn.

See full money supply data, May 2016

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