THURSDAY, JANUARY 31, 1985
3
MONETARY STATISTICS FOR DECEMBER 1984
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BOTH HONG KONG DOLLAR DEPOSITS AND FOREIGN CURRENCY DEPOSITS GREW SUBSTANTIALLY IN DECEMBER, ACCORDING TO MONETARY STATISTICS PUBLISHED TODAY (THURSDAY).
THE INCREASE DURING THE MONTH WAS NEVERTHELESS AT LEAST IN PART SEASONAL. ATTRIBUTABLE TO THE CREDITING OF HALF-YEARLY INTEREST TO SAVINGS ACCOUNTS AT YEAR-END. THE PAYMENT OF YEAR-END BONUSES MAY ALSO ACCOUNT FOR SOME OF THE RISE IN HONG KONG DOLLAR DEPOSITS DURING THE MONTH.
THERE WAS ALSO A SEASONAL INCREASE DURING THE MONTH IN HONG KONG DOLLAR CASH DEMAND, AS REPRESENTED BY LEGAL TENDER NOTES AND COIN HELD BY THE PUBLIC.
REFLECTING THE CHANGES IN HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS IN THE MONTH, BOTH THE HONG KONG DOLLAR AND THE FOREIGN CURRENCY COMPONENTS OF THE MONEY SUPPLY ROSE, ON ALL DEFINITIONS.
WHILE LOANS FOR USE IN HONG DEMAND FOR LOANS REMAINED WEAK. KONG REGISTERED A SMALL INCREASE, LOANS TO FINANCE VISIBLE TRADE FELL IN DECEMBER.
TABLE 1 SETS OUT SUMMARY FIGURES FOR DECEMBER 1984 AND COMPARISONS WITH EARLIER MONTHS. TABLE 2 SETS OUT FIGURES FROM THE QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG BY SECTOR.
(NOTE: THESE TWO TABLES ARE BEING SENT BY FACSIMILE NETWORK, AND WILL ALSO BE BOXED FOR COLLECTION.)
DEPOSITS
HONG KONG DOLLAR DEPOSITS ROSE FURTHER, BY 3.3 PER CENT IN DECEMBER, AFTER AN INCREASE OF 4.9 PER CENT IN NOVEMBER. FOR THE FOURTH QUARTER OF 1984 THE INCREASE WAS 11.1 PER CENT BRINGING THE GROWTH RATE FOR 1984 AS A WHOLE TO 25.9 PER CENT,
FOREIGN CURRENCY DEPOSITS ALSO ROSE, BY 4.5 PER CENT IN DF EMBER, AGAINST A FALL OF 1.6 PER CENT IN NOVEMBER. IN THE THREE M THS TO DECEMBER, THEY ROSE BY 5.3 PER CENT AND OVER THE YEAR AS A WHOLE BY 26,2 PER CENT.
/TOTAL DEPOSITS