Macedonia's M1 money supply slows down in February.

By bne IntelliNews March 22, 2011
The annual growth of the monetary aggregate M1 slowed down to 6.7% in February from 9.3% y/y at end-January, according to the preliminary data of the central bank. The deceleration reflects mainly the lower annual growth of demand deposits, while there was acceleration in the currency in circulation component of M1. Demand deposits rose by 6.7% y/y to MKD 38.1bn at end-February, slowing down from 12.7% y/y a month earlier. Currency in circulation increased by 6.5% y/y to MKD 16.1bn at the end of last month, speeding up from 1.9% y/y at end-January. The monetary aggregate M2 rose by 8.2% y/y to MKD 201bn at end-February, accelerating from 7.6% y/y a month earlier. M2 includes M1, short-term local currency deposits (up 15.4% y/y to MKD 53.3bn) and short-term foreign currency deposits (up 5.3% y/y to MKD 93.5bn). For comparison, short term-local and foreign currency deposits grew by 11.5% y/y and 4.5% y/y respectively at end-January. The monetary aggregate M4 increased by 12.1% y/y to MKD 233.5bn at end-February, accelerating from 11.5% y/y at end-January.

Macedonia's M1 money supply slows down in February.

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