REKLAMA

Money supply up by 1.5% over March 1-20

2001-04-03 17:00
publikacja
2001-04-03 17:00

Money supply up by 1.5% over March 1-20

Broad money rose by PLN 4.39bn (USD 1.07bn), or 1.5%, in the first twenty days of March, to a total of PLN 299.93bn (USD 71.15bn), NBP also reported. The broad money supply rose by 1.9% in the January-March 20 period, against a 1.2% fall in the same period of last year. In March 1-20, individual deposits and credits rose 0.5% and 0.8% respectively. On the year, credits rose much slower than deposits, as the credit action was curbed by high interest rates. The credit to individuals rose 0.7% since the beginning of the year, while the deposits increased by 5.8%. Higher savings and no monetary pressure are among the main arguments for the recent interest rate cuts. After the latest cut last week, the leading banks announced they were going to reduce rates as well. Yesterday, the biggest Polish savings banks PKO BP announced it would cut the rates by 1pp by the end of the week, and Pekao SA and Powszechny Bank Kredytowy (PBK) followed suit. bb, kp

Źródło:IntelliNews Daily
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