Money stock inches up in June

In June, total money supply (M3) increased by 0.4 percent month-on-month in nominal terms, reaching PLN 995.5 billion, according to data issued on Monday by the National Bank of Poland. The growth was mainly due to the increase in corporate deposits, which amounted to PLN 199.5 billion at the end of last month, 2 percent more (PLN 4.3 billion) than at the end of May. Local governments’ deposits declined by 7.9 percent to reach PLN 28.5 billion, as did the deposits of non-monetary financial institutions, by 2.3 percent to PLN 46.7 billion. Deposits of households remained largely unchanged at PLN 561 billion. The non-monetary financial institutions sector saw the biggest increase in indebtedness, by 6.3 percent (PLN 2.8 billion) to a total of PLN 4.7 billion. Households’ indebtedness rose only by 0.7 percent (PLN 4 billion) to PLN 578.7 billion. The indebtedness of the  corporate sector grew by 1.2 percent to PLN 293 billion at the end of last month.