Narodowy Bank Polski

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Money supply in November 2016

Publication date: 14-12-2016

In November 2016, the M3 money supply rose by PLN 21.4bn, the highest monthly increment in over 2 years. The rise was mostly driven by movements in deposits and other bank debt to households and corporates.

Preliminary data released by NBP on 14 December 2016 show the M3 aggregate, reflecting the total supply of money, to stand at PLN 1239.7bn at the end of November, i.e. PLN 21.4 higher than in October 2016.

The sharpest rise in deposits as compared with other bank debt in November was observed in the household sector, whose deposits grew by PLN 10.7bn (i.e. 1.6%), to reach PLN 694.3bn. Corporate deposits and other bank debt to corporates rose by PLN 6.9bn (or 2.8%), to PLN 255.2bn. The stock of non-bank currency holdings increased by PLN 3.6bn, to reach PLN 170.5bn. Household debt increased by PLN 6.2bn (or 0.9%), to PLN 664.8bn.

Banks' claims on corporates increased by PLN 3.8bn (1.1%), to PLN 346.3, while the net debt of central government entities rose by PLN 14.7bn (or 6.7%), to reach 236.2bn).

See full money supply data

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