Narodowy Bank Polski

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Money supply in May 2018

Publication date: 22-06-2018

In May 2018, the M3 money supply rose by PLN 17.9bn. The growth was mainly driven by an increase in deposits and other household and corporate claims on banks.

Data released by NBP on 22 June 2018 indicate that in May 2018 the M3 aggregate, reflecting the total money supply, stood at PLN 1.3tn as at the end of the month, i.e. PLN 17.9bn more than at the end of April 2018.

In May 2018, the stock of household deposits and other household claims on banks, which are included in the M3 aggregate, increased by PLN 5.5bn, or 0.7%, to PLN 751.0bn. Deposits and other claims of local government institutions on banks increased by PLN 2.4bn, i.e. 6.3%, to reach PLN 40.3bn. Cash holdings outside banks increased by PLN 2.9bn, i.e. 1.5%, to PLN 191.5bn. Corporate deposits and other claims of corporates on banks rose by PLN 5.4bn, i.e. 2.1%, to PLN 260.9bn.

Household debt rose by PLN 12.0bn, i.e. 1.7%, to PLN 700.6bn. The stock of banks’ claims on corporates increased by PLN 6.0bn, i.e. by 1.6%, to PLN 374.5bn, while the net debt of central government institutions in the banking sector increased by PLN 6.3bn, i.e. 2.7%, to reach PLN 243.3bn.

See full money supply data

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