NOTE TO EDITORS 1
SATURDAY, MARCH 3, 1979
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WHERE TO SEE THE PRINCE TOMORROW (SUNDAY)
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THE FOLLOWING IS A GUIDE FOR MEMBERS OF THE PUBLIC WISHING TO SEE HIS ROYAL HIGHNESS THE PRINCE OF WALES WHEN HE LEAVES FLAGSTAFF HOUSE TOMORROW (SUNDAY) FOR HIS SHA TIN ENGAGEMENT:
FROM FLAGSTAFF HOUSE TO SHA TIN (9.30 A.M.
9.55 A.M.)
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THE PRINCE'S MOTORCADE WILL LEAVE FLAGSTAFF HOUSE AND PROCEED TO SHA TIN VIA COTTON TREE DRIVE, GARDEN ROAD, QUEENSWAY, ARSENAL STREET, WATERFRONT ROAD, CROSS-HARBOUR TUNNEL, PRINCESS MARGARET ROAD, WATERLOO ROAD, LIÓN ROCK TUNNEL AND LION ROCK TUNNEL ROAD.
MONEY SUPPLY STATISTICS FOR JANUARY
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GOVERNMENT TODAY (SATURDAY) RELEASED THE MONEY SUPPLY STATISTICS FOR JANUARY, TOGETHER WITH THE MONTHLY STATISTICS FOR BANKS AND DEPOSIT-TAKING COMPANIES.
THE FIGURES ARE UP TO JANUARY 27, THE LAST WORKING DAY BEFORE THE LUNAR NEW YEAR, AND ARE THEREFORE SUBJECT TO STRONG SEASONAL DISTORTIONS.
THIS ALSO APPLIES TO THE LONGER TERM TREND, SINCE LUNAR NEW YEAR CAME LATER IN 1978 THAN IT DID IN 1979, SO THAT THE YEAR-ON-YEAR COMPARISON DOES NOT REFLECT IDENTICAL SEASONAL PRESSURES IN THE TWO YEARS.
THE MONEY SUPPLY
THE MONEY SUPPLY ON BOTH DEFINITIONS ROSE AGAIN IN JANUARY AND THE LONGER-TERM SLOWING DOWN IN THE RATE OF GROWTH OF THE MONEY SUPPLY, WHICH HAS BEEN APPARENT IN RECENT MONTHS, APPEARS TO HAVE HALTED (AT LEAST TEMPORARILY).
M1 (NOTES AND COIN IN CIRCULATION AND DEMAND DEPOSITS AT LICENSED BANKS) ROSE BY $1,230 MILLION (5.5 PER CENT) IN JANUARY TO $23,511 MILLION WHICH WAS 22.5 PER CENT ABOVE JANUARY, 1978.
M2 (M1 PLUS TIME AND SAVINGS DEPOSITS) ROSE BY $2,691 MILLION (3.7 PER CENT) IN JANUARY TO $76,097 MILLION, WHICH WAS 26.2 PER CENT ABOVE JANUARY, 1978.
THERE WAS A VERY SHARP SEASONAL RISE IN THE VOLUME OF CURRENCY IN CIRCULATION, INCLUDING BOTH NOTES AND COIN, WITH THE FIRST ISSUE OF THE YEAR OF THE GOAT GOLD COINS THAT RISE WAS PARTIALLY FINANCED BY A FALL IN DEMAND AND SAVINGS DEPOSITS.
/THE ANNUAL