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

Poland and Israel in diplomatic row over law penalising claims of complicity in Nazi crimes

Poland passed a bill on January 26 making it illegal to claim Poles or the Polish state were complicit in Nazi crimes during the Second World War, sparking an angry response from Israel, which ... more

Poland rescinds TVN’s fine

Poland’s National Broadcasting Council (KRRiT) has cancelled on January 10 its own decision to fine the US-owned media group TVN PLN1.48mn (€350,000) for covering protests against ... more

Poland’s PKN Orlen launches offer to delist Czechia’s Unipetrol

Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more