Money supply in November
Publication date: 13-12-2013
NBP data: Last month saw a marginal decrease in the supply of the M3 monetary aggregate. Bank deposits of households increased slightly. Lending both to individuals and corporates rose as well.
Preliminary data on money supply released by NBP on 13 December 2013 indicate a minor reduction in the money stock in November. At the end of November, the M3 aggregate, which reflects the aggregate value of money supply, decreased by 0.2 percentage points as against end-October and stood at PLN 953.5bn. The volume of cash in circulation at that time expanded by 0.5 per cent to PLN 113.7bn.
November saw a slight increase in bank deposits of households. In nominal terms, they grew by PLN 1.8bn (0.3 per cent) to PLN 533.4bn. In real terms, adjusted for non-transaction-related changes, including in particular changes in the exchange rate of the zloty, deposits increased by approx. PLN 1.5bn.
Bank lending to individuals and corporates increased as well. In nominal terms, lending to households grew by PLN 3.2bn – increasing their debt at the end of November to PLN 563.1bn. Lending to corporates grew by PLN 2.3bn, bringing their debt to PLN 276.6bn.
See full money supply data, November 2013.