Macao's broad money supply grows 6.8 pct in October

Source: Xinhua| 2019-10-05 18:30:12|Editor: Lu Hui
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MACAO, Oct. 5 (Xinhua) -- Macao's broad money supply continued to grow in October with a stable share of patacas, the special administrative region's monetary watchdog said here on Saturday.

Monetary Authority of Macao said currency in circulation and demand deposits rose 1.3 percent and 4.1 percent respectively. M1 thus increased 3.5 percent from one month earlier and quasi-monetary liabilities dropped 0.3 percent. The sum of these two items, that is, M2 grew 0.2 percent to 663.6 billion patacas, the watchdog added.

On an annual basis, M1 and M2 increased 6.7 percent and 6.8 percent respectively.

Resident deposits went up by 0.2 percent from the preceding month to 647.1 billion patacas whereas non-resident deposits dropped 4.4 percent to 253.5 billion patacas.

Meanwhile, public sector deposits with the banking sector decreased by 1.9 percent to 243.6 billion patacas.

As a result, total deposits in the banking sector fell 1.3 percent from a month earlier to 1,144.1 billion patacas. (1 U.S. dollar equals to 8.06 patacas)