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MONEY SUPPLY AND FINANCIAL STATISTICS FOR FEBRUARY 1982
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THE MONEY SUPPLY AND FINANCIAL STATISTICS FOR FEBRUARY 1982 ARE PUBLISHED TODAY. THE MONETARY AGGREGATES ARE STILL AFFECTEL BY SEASONAL FACTORS.
A REDUCTION IN THE DEMAND FOR TRANSACTION BALANCES (NOTE. AND COINS, CURRENT ACCOUNTS AND SAVINGS ACCOUNTS) AFTER THE LUNAR NEW YEAR CAUSED THE MONEY SUPPLY, ON FIVE OF THE SIX DEFINITIONS, TO FALL IN FEBRUARY, BUT THERE WAS A FURTHER RISE IN THE GROWTH OF LOANS FOR USE IN HONG KONG DURING THE MONTH, PARTLY REFLECTING THE CONTINUED DEMAND FOR CREDIT ARISING FROM THE NEED TO PAY PROFITS AND SALARIES TAXES.
MONEY SUPPLY
THE MONEY SUPPLY ON THE NARROW DEFINITION, M1-TOTAL, FELL IN FEBRUARY BY EIGHT PER CENT AND HK$M1 BY 8.5 PER CENT, AFTER INCREASING BY, RESPECTIVELY, 8.9 PER CENT AND 8.6 PER CENT IN JANUARY. THE FEBRUARY DUTTURN REFLECTED A REDUCTION OF 13.5 PER CENT IN NOTES AND COINS HELD BY THE PUBLIC AFTER THE LUNAR NEW YEAR AND ALSO A FALL OF 3.7 PER CENT IN DEMAND DEPOSITS WITH BANKS.
M2-TOTAL FELL BY 0.6 PER CENT IN FEBRUARY, DOWN FROM
A 3.1 PER CENT RISE IN JANUARY, M3-TOTAL ROSE BY 0.1 PER CENT IN FEBRUARY, ALSO DOWN FROM AN INCREASE OF 2.3 PER CENT IN THE PREVIOUS MONTH. HK$M3 FELL BY 1.2 PER CENT, AFTER RISING BY 1.8 PER CENT IN JANUARY,
IN THE LAST THREE MONTHS HK$M3 ROSE BY 3.5 PER CENT, UP FROM AN INCREASE OF 1.8 PER CENT IN THE PREVIOUS THREE MONTHS.
LOANS FOR USE IN HONG KONG
LOANS BY BANKS AND DEPOSIT-TAKING COMPANIES FOR USE IN HONG KONG ROSE IN FEBRUARY BY 3.6 PER CENT, AFTER AN INCREASE OF 2.5 PER CENT IN JANUARY, IN THE LAST THREE MONTHS, TOTAL LOANS FOR USE IN HONG KONG GREW BY 10.5 PER CENT, AGAINST AN INCREASE OF 7.5 PER CENT IN THE PREVIOUS THREE MONTHS.
LOANS BY BANKS FOR USE IN HONG KONG ROSE IN FEBRUARY BY 3.8 PER CENT, AND SIMILAR LOANS BY DEPOSIT-TAKING COMPANIES BY 3.1 PER CENT, FOLLOWING THE INCREASES OF 2.5 PER CENT AND 2.6 PER CENT RESPECTIVELY IN THE PREVIOUS MONTH.
FOREIGN CURRENCY ASSETS
THE NET FOREIGN CURRENCY ASSETS OF ALL BANKS FELL IN FEBRUARY EY $2 474M., WHILE THE NET FOREIGN CURRENCY LIABILITIES OF ALL DEPOSIT-TAKING COMPANIES ROSE BY $221M., INDICATING A NET OUTFLOW OF FUNDS FROM THE HONG KONG MONETARY SECTOR OF $2 695M., COMPAREL WITH A NET OUTFLOW OF $537M, IN THE PREVIOUS MONTH. IN THE LAST THREE MONTHS THE NET OUTFLOW OF FUNDS FROM THE MONETARY SECTOR AMOUNTED TO $2 580M., AFTER A NET INFLOW TO THE SECTOR OF 3398M. IN THE PREVIOUS THREE MONTHS.
/BALANCE SHEET