Narodowy Bank Polski

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Money supply in January 2021

Publication date: 22-02-2021

In January 2021, the value of the M3 money supply decreased by PLN 2.5 billion. The decrease was mainly driven by a decline in deposits and other claims to non-financial corporations and social security funds.

Data released by Narodowy Bank Polski on 22 February 2021 show that at the end of January 2021 the M3 aggregate amounted to PLN 1,820.2 billion, i.e. it was PLN 2.5 billion lower than at the end of December 2020.

In January 2021, the value of households’ deposits and other claims of households in the M3 aggregate increased by PLN 2.1 billion, i.e. 0.2%, and amounted to PLN 979.2 billion. The stock of deposits and other claims of other financial institutions decreased by PLN 4.6 billion, i.e. 9.0%, to PLN 55.4 billion. The value of corporate deposits and other claims of corporates dropped by PLN 6.4 billion, i.e. 1.7%, to PLN 370.0 billion and the value of deposits and other claims of social security funds decreased by PLN 5.4 billion, i.e. 27.3%, to PLN 14.4 billion.

Corporate debt grew by PLN 5.2 billion, i.e. 1.4%, to PLN 372.3 billion, while household debt fell by PLN 1.2 billion, i.e. 0.1%, to PLN 787.9 billion. The net debt of central government entities decreased by PLN 33.4 billion, i.e. 8.1%, to PLN 378.2 billion.

See full money supply data

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