Money stock slightly up in July

In June, total money supply (M3) increased by 0.7 percent month-on-month in nominal terms, reaching PLN 1 billion in July, according to data issued on Thursday by the National Bank of Poland. The biggest increase in was recorded in households’ deposits, which amounted to PLN 563.9 billion at the end of last month, 0.5 percent more (PLN 2.9 billion) than at the end of June. Deposits of non-monetary financial institutions grew by PLN 2.3 billion to PLN 49 billion. Corporate deposits were at PLN 200.2 billion and grew by 0.4 percent or PLN 0.8 billion. Households’ indebtedness grew by 2.9 billion or 0.5 percent to PLN 581.5 billion. Corporate debt declined for the first time this year, by PLN 1.6 billion to PLN 291.8 billion. The indebtedness of non-monetary financial institutions also declined – by PLN 1.8 billion to PLN 45.4 billion.