Narodowy Bank Polski

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Money supply in January 2020

Publication date: 24-02-2020

In January 2020, the M3 money supply dwindled by PLN 7.9bn. The decline was mostly driven by a decrease in deposits and other claims of non-financial enterprises on banks.

According to data released by Narodowy Bank Polski on 24 February 2020, the M3 aggregate, reflecting the total supply of money, amounted to PLN 1,557.8bn at the end of January 2020, i.e. PLN 7.9bn less than at the end of December 2019.

In January 2020, the stock of household deposits and other household claims on banks which are included in the M3 aggregate increased by PLN 2.7bn, i.e. 0.3%, and amounted to PLN 884.1bn. Deposits and other claims on other financial institutions rose by PLN 2.1bn, i.e. 4.0%, to PLN 54.4bn. In the enterprise sector, deposits and other claims on banks decreased by PLN 8.1bn, i.e. 2.6%, to PLN 308.1bn, and in the local government sector – by PLN 0.3bn, i.e. 0.9%, to PLN 36.9 billion.

Household debt grew by PLN 5.1bn, i.e. 0.7%, to PLN 771.7 billion. The stock of banks’ claims on enterprises increased by PLN 4.9bn, i.e. 1.3%, to PLN 393.2bn, and the net debt of central government entities diminished by PLN 20.1bn, i.e. 6.5%, and stood at PLN 290.2 billion.

See full money supply data

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