M3 Money Supply declined to 5.0%

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Tuesday, Nov 28 2017

M3 Money Supply declined to 5.0%

The annual growth rate of the broad monetary aggregate M3 decreased to 5.0% in October 2017, from 5.2% in September, averaging 5.1% in the three months up to October. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate, including currency in circulation and overnight deposits (M1), decreased to 9.4% in October, from 9.8% in September. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -2.7% in October, from -3.2% in September. The annual growth rate of marketable instruments (M3-M2) decreased to -0.7% in October, from 1.0% in September.

Within M3, the annual growth rate of deposits placed by households increased to 4.8% in October, from 4.6% in September, and the annual growth rate of deposits placed by non financial corporations increased to 8.3% in October, from 8.1% in September. Finally, the annual growth rate of deposits placed by non-monetary financial corporations (excluding insurance corporations and pension funds) decreased to 4.7% in October, from 5.7% in September.

More in this category: « UK banks strong enough to cope with 'disorderly' Brexit, Bank of England says German Consumer Climate unchanged at 10.7 »

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