Macao's broad money supply continues to grow in November 2017

Updated 2018-01-05 14:01:06 Xinhua

Macao's money supply continued to grow in November 2017 as M1 and M2 grew 5.9 percent and 13.3 percent year-on-year respectively, the special administrative region's monetary watchdog said on Friday.

The latest report issued by the Monetary Authority of Macao said that currency in circulation rose 1.1 percent month-to-month whereas demand deposits dropped 0.4 percent.

The report added that M1 edged down 0.1 percent from one month earlier, and quasi-monetary liabilities rose 1.5 percent. The sum of these two items, i.e. M2, increased 1.3 percent to 588.5 billion patacas (about 73.2 billion U.S. dollars).

Resident deposits grew 1.3 percent from the preceding month to 573.8 billion patacas (about 71.3 billion dollars) while non-resident deposits fell 3.2 percent to 251.1 billion patacas (about 31.2 billion dollars).

On the other hand, public sector deposits with the banking sector increased 0.3 percent to 186.3 billion patacas (about 23.2 billion dollars).

At the end of November, the loan-to-deposit ratio for the resident sector edged down from 59.6 percent at the end of October to 59.4 percent. However, the ratio for both the resident and non-resident sectors rose from 87.6 percent to 88.0 percent.

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