Narodowy Bank Polski

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Money supply in March 2017

Publication date: 14-04-2017

March 2017 saw a decline in M3 money supply by PLN 1.3 billion. The decrease was caused by a fall in deposits and other liabilities of banks towards the corporate sector and non-monetary financial institutions.

According to preliminary data released by Narodowy Bank Polski on 14 April 2017, in March 2017 the M3 aggregate, which reflects the total money supply, amounted to PLN 1.3 trillion at the end of the month and was PLN 1.3 billion lower than at the end of February 2017.

In March 2017 the value of deposits and other liabilities towards the household sector rose by PLN 1.4 billion (i.e. 0.2%) to the level of PLN 712.8 billion. The deposits and other liabilities in local government institutions increased by PLN 2.5 billion (i.e. 6.9%) to the level of PLN 39.3 billion. The value of cash in circulation (excluding vault cash) rose by PLN 0.6 billion (i.e. 0.4%) to PLN 173.1 billion. However, the value of deposits and other liabilities towards the corporate sector decreased by PLN 3.7 billion (i.e. 1.5%) to the level of PLN 246.7 billion, and towards non-monetary financial institutions by PLN 2.1 billion (i.e. 4.4%) to the level of PLN 45.7 billion.

The value of household debt fell by PLN 1.4 billion (i.e. 0.2%) to PLN 664.4 billion. Claims on the corporate sector rose by PLN 1.9 billion (i.e. 0.5%) to PLN 345.7 billion, while the debt of non-monetary financial institutions increased by PLN 2.8 billion (i.e. 4.4%) to PLN 66.9 billion. The net debt of the sector of central government institutions decreased by PLN 0.4 billion (i.e. 0.2%) to PLN 226.9 billion.

See full money supply data

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