TUESDAY, OCTOBER 30, 1984
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TOTAL DEPOSITS WITH BANKS ROSE BY 0.8 PER CENT WHILE TOTAL DEPOSITS WITH DEPOSIT-TAKING COMPANIES DROPPED BY 1.5 PER CENT. THEIR RESPECTIVE INCREASES IN AUGUST WERE 1.7 PER CENT AND 0.8 PER CENT. THESE FIGURES PROBABLY SUGGEST SOME REVERSION OF DEPOSITS TO BANKS FROM DEPOSIT-TAKING COMPANIES AS INTERBANK RATES GENERALLY EASED, PARTICULARLY TOWARDS THE END OF THE MONTH. HOWEVER, REFLECTING THE SHIFT OF DEPOSITS FROM THE FORMER TO THE LATTER IN EARLIER MONTHS, TOTAL DEPOSITS WITH BANKS GREW BY ONLY 0.6 PER CENT IN THE THREE MONTHS TO SEPTEMBER, WHILE THOSE WITH DEPOSIT-TAKING COMPANIES GREW BY 6.8 PER CENT.
HONG KONG DOLLAR MONEY SUPPLY
HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS INCREASED FURTHER, WITH HK$M1 (THE NARROWEST DEFINITION) RISING BY
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5.2 PER CENT, HK$M2 BY 1.5 PER CENT AND HK$M3 BY 1.3 PER CENT. THE IR RESPECTIVE INCREASES IN AUGUST WERE 1.8 PER CENT, 3.4 PER CENT AND 2.6 PER CENT.
IN THE THREE MONTHS TO SEPTEMBER, INCREASES OF 1.0 PER CENT, 1.2 PER CENT AND 2.6 PER CENT WERE RECORDED FOR HK$M1, HK$M2 AND HK$M3 RESPECTIVELY. THEIR CORRESPONDING GROWTH RATES OVER THE 12 MONTHS WERE 9.5 PER CENT, 17.9 PER CENT AND 26.9 PERCENT.
TOTAL MONEY SUPPLY
WHILE TOTAL M1 GREW BY 5.4 PER CENT, TOTAL M2 WAS ONLY 0.8 PER CENT AND TOTAL M3 0.3 PER CENT HIGHER IN SEPTEMBER FOLLOWING INCREASES OF 2 PER CENT, 1.7 PER CENT AND 1.5 PER CENT RESPECTIVELY IN AUGUST. THEIR CORRESPONDING GROWTH RATES OVER THE THREE MONTHS TO SEPTEMBER WERE 2.5 PER CENT, 0.5 PER CENT AND 1.7 PER CENT AND OVER THE 12 MONTHS, 11.9 PER CENT, 12.7 PER CENT AND 20.2 PER CENT RESPECTIVELY.
LOANS AND ADVANCES
TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT- TAKING COMPANIES SHOWED ONLY A SMALL INCREASE OF 0.3 PER CENT IN SEPTEMBER, AFTER AN INCREASE OF 0.5 PER CENT IN AUGUST. THE INCREASE IN THE THREE MONTHS TO SEPTEMBER WAS 2 PER CENT AND OVER THE 12 MONTHS 4.9 PER CENT.
LOANS TO FINANCE VISIBLE TRADE DECREASED FURTHER, BY 1.3 PER CENT IN SEPTEMBER, FOLLOWING A DECREASE OF 2.3 PER CENT IN AUGUST. WHILE THEY SHOWED A FALL OF 2.1 PER CENT OVER THE THREE MONTHS TO SEPTEMBER. AN INCREASE OF 12.5 PER CENT WAS RECORDED OVER THE 12 MONTHS.
OTHER LOANS FOR USE IN HONG KONG CONTINUED TO RISE ONLY MARGINALLY, BY 0.1 PER CENT. IN THE THREE MONTHS TO SEPTEMBER, THE INCREASE WAS 1.1 PER CENT AND OVER THE 12 MONTHS THE
NCREASE WAS 1.4 PER CENT.
QUARTERLY ANALYSIS