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Money Supply in October 2014

Date: 14-11-2014

NBP Data: Money supply M3 in October increased moderately in comparison with the previous month. Household deposits rose more quickly than corporate deposits. There was a slower increase in debt of households as compared to the previous month, whereas debt of corporates shrunk.

Preliminary data, posted by NBP on 14 November, show that the M3 aggregate, which reflects the total money supply, amounted to PLN 1.03 trillion at the end of October – and was higher by PLN 6.8bn (i.e. by 0.7%) compared with the figure seen at the end of September.

In September, household deposits increased by PLN 4.7bn (i.e. by 0.8%) to reach PLN 572bn. The value of corporate deposits rose slightly by PLN 0.6bn (i.e. by 0.3%) and stood at approximately PLN 210bn. However, there was a drop of deposits in the sector of local government institutions, which decreased by nearly PLN 1.4bn (i.e. by 4.8%), reaching PLN 27.0bn.

Banks claims on corporates increased by PLN 1.8bn (i.e. by 0.6%) and stood at PLN 299.3bn. Household debt increased by PLN 1.9bn (i.e. by 0.3%) and reached PLN 592.1bn. However, the highest debt growth – compared to the previous analysed period –was recorded in the sector of non-monetary financial institutions, whose liabilities increased by PLN 2.2bn (i.e. by 4.8%), reaching PLN 48.8bn.

See full money supply date in October 2014.

NBP interest rates

Reference rate 6.75
Lombard rate 7.25
Deposit rate 6.25
Rediscount rate 6.80
Discount rate 6.85

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00-919 Warszawa

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