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Money Supply in June 2014

Publication date: 14-07-2014

NBP Data: M3 money supply expanded, in nominal terms, by 0.4% in June. There was a rise in corporate and household deposits. The debt of these sectors grew more slowly than in the previous months.

Preliminary data on money supply, posted by NBP on 14 July, show that in month-on-month terms, money stock increased in June. The M3 aggregate, which reflects the total money supply, amounted to PLN 995.5bn at the end of the month, an increase of 0.4% (PLN 4.4bn) on the figure seen at the end of May.

The M3 component with the highest monthly growth was corporate deposits. These stood at PLN 199.6bn at the end of June, having risen by PLN 3.9bn or 2.0%. The rise in household deposits was relatively small - they grew by PLN 2.2bn, or 0.4%, to the level of PLN 561.0bn. In contrast, the stock of funds deposited at banks by local government bodies sank by 7.9% (PLN 2.5bn) to PLN 28.5bn.

The debt of households and corporates expanded somewhat more slowly than in the previous months. The nominal increase in the household sector amounted to PLN 3.9bn, i.e. 0.7%, up to PLN 578.7bn, or, after adjusting for non-transaction changes, PLN 2.4bn, i.e. 0.4%. In these terms, it was the smallest increase since March 2014. Corporate debt rose by PLN 3.4bn (1.2%), to reach PLN 293.2bn. This was the smallest increment since February 2014. There was no significant change in the net debt of central government institutions.

See full money supply date in June 2014.

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