Poland's money supply M3's growth accelerates to 5.4% y/y in April

By bne IntelliNews May 15, 2014

Poland's money supply M3 increased by 0.6% m/m and grew by 5.4% in annual terms to PLN 985.80bn (EUR 235.6bn) at the end of April of 2014, according to the data of the National Bank of Poland (NBP).

A month earlier, the annual growth was 5.1%. Market consensus was the rise of 5.2% y/y.

Cash in circulation was up by 2.2% on the month and rose by 11.0% y/y to PLN 133.74bn (vs. growth of 10.3% y/y a month before).

As of March of 2002, broad money M3 became basic analytical and publication category of money supply in Poland.

The April M3 data have again confirmed that credit creation remains limited, while monetary pressures are still low.

Related Articles

European Parliament calls for use of “nuclear option” against Poland

The European Parliament adopted a resolution on November 15 calling on the EU Council to launch the so-called “nuclear option” against Poland to punish Warsaw for its alleged abuse of the ... more

EU calls for tax haven blacklist in Paradise Papers fallout

The finance ministers of the European Union member states have called for the creation of a blacklist of tax havens to crack down on tax dodging, the ministers said at a meeting in Brussels on ... more

One-off events drive Warsaw Stock Exchange operator's profit to record high

GPW, the operator of the Warsaw Stock exchange, posted a net profit of PLN47mn (€11.1mn) in the third quarter, representing an annual growth of 18.9% y/y, the company said on October 31. The ... more