The money supply
3.3
(3)
Since the beginning of 1981 (when the new series of
monetary statistics became available),
available), total money supply on all definitions has generally grown faster than its respective
(4) Hong Kong dollar-denominated component
reflecting a fast expansion in foreign currency deposits (very largely in US
dollars) taken by banks and deposit-taking companies. Foreign
7
/currency
The Definitions of the Money Supply are:
(3)
M1
-
Total
(4)
M2 Total
M3
Total
Notes and coins with the public, plus customers' demand deposits with licensed banks.
Ml plus customers' savings and time deposits with licensed banks, plus negotiable certificates of deposit issued by licensed banks and held outside the monetary sector.
M2 plus customers deposits with licensed and registered deposit-taking companies plus negotiable certificates of deposit issued by deposit-taking companies and held outside the monetary sector.
HK$M1, HK$M2 and HK$M3 are the Hong Kong dollar components of these definitions.
Growth Rates of the Money Supply (%) (period on previous corresponding period)
Ml
M2
M3
Total
HK$
Total
HK$
1981 Q1
-1.6
-0.6
+5.2
+5.3
Q2
+0.6
+0.3
+5.3
+2.9
Total HK$
+6.9 +7.1 +12.5 +8.5
Q3
+1.5
+0.9
+1.5
-1.2
+0.8 -0.4
Q4
+3.6
+2.2
+8.0
+6.2
+5.2 +4.6
H1
-1.0
-0.3
+10.7
+8.4
+20.2
+16.3
H2
+5.2
+3.2
+9.6
+5.0
+6.0 +4.2
1982 01
-0.9
-1.7
+14.0
+3.9
+7.1 -0.5
Q2
+4.1
+2.8
+23.3
+5.3
+12.4
-2.0
H1
+3.2
+1.1
+40.6
+9.4
+20.3 -2.5
% change in
+8.5
+4.3
+54.1
+14.9
+27.5
+1.6
the year
ending
June 1982
As at end 25 993 24,000 164,189 105,876 212,748 142,282
of June
1982 ($Mn)
18