Hong Kong Dec M1 money supply down 0.7 pct mth-on-mth, up 11.6 pct yr-on-yr |
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Wed, 31 Jan 2007 10:53
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HONG KONG (XFN-ASIA) - Hong Kong's M1 money supply in December fell 0.7 pct from November, but was up 11.6 pct from a year earlier, the Hong Kong Monetary Authority (HKMA) said.Unadjusted M2 and M3 in Hong Kong dollar terms both slid 5.6 pct month-on-month, but jumped 19.2 pct year-on-year, the HKMA said.Total deposits with authorized institutions fell 2.6 pct in December from the preceding month, with Hong Kong dollar deposits declining by 6.1 pct and foreign currency deposits rising by 1.9 pct.Yuan deposits remained flat at 22.7 bln yuan during the same period.Total loans and advances fell 7.8 pct during the period. Of the total, loans for use in Hong Kong dropped 9.1 pct while those for use outside Hong Kong rose 1.5 pct.The Hong Kong dollar loans-to-deposit ratio slipped to 74.7 pct, as Hong Kong dollar loans fell at a faster pace than did Hong Kong dollar deposits, the HKMA added.(1 usd = 7.8 hkd; 7.9 yuan)roby.lau@xfn.comrl/net
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Macroeconomics highlights to 10:10 GMT 