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