Narodowy Bank Polski

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Money Supply in October 2012

Date: 14-11-2012

NBP data: In October 2012, the M3 money supply increased by PLN 10 billion, or 1.1% in nominal terms. Corporate deposits also grew, amidst falling corporate debt in banks.

According to the October money supply release, posted by the National Bank of Poland on 14 November 2012, there was a 1.1% rise in the M3 monetary aggregate as compared with the previous month.

Corporate deposits went up by 1.9% on their September levels while household deposits rose by 0.5%, to reach PLN 501.4 billion. Slower - as compared to the year before - household deposit growth was a result of, among other factors, weaker growth in individuals’ income and their increased interest in the offer of investment funds observed in 2012.

Bank debt of corporates shrunk – as against September data – by 0.5%, whereas bank debt of households grew by 0.5% and stood at PLN 540.0 billion. It follows from the balance-sheet data for the first 9 months of 2012 that the slight rise reported in October took place on the back of, among other factors, increased mortgage lending, including under the „Rodzina na swoim” [Family on Its Own] program. At the same time, consumer loans continued to contract.

See: full money supply data, October 2012

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Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa

+48 22 185 10 00
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