ON
FRIDAY, AUGUST 2, 1985
DEPOSITS
HONG KONG DOLLAR DEPOSITS GREW BY 0.8 PER CENT IN JUNE, AFTER HAVING INCREASED BY 1.3 PER CENT IN MAY. HONG KONG DOLLAR DEMAND DEPOSITS ROSE STRONGLY BY 6.3 PER CENT, AND SAVINGS DEPOSITS BY 4.9 PER CENT, PARTLY DUE TO HALF-YEARLY INTEREST PAYMENTS. HONG KONG DOLLAR TIME DEPOSITS, HOWEVER, RECORDED A REDUCTION OF 3.1 PER CENT. IN THE THREE MONTHS TO JUNE, HONG KONG DOLLAR DEPOSITS GREW BY 3.3 PER CENT, AND OVER THE 12 MONTHS THE GROWTH RATE WAS 21.1 PER CENT.
FOREIGN CURRENCY DEPOSITS ROSE BY 2.5 PER CENT IN JUNE, SAME AS THE GROWTH RATE RECORDED IN MAY. ABOUT 80 PER CENT OF THE INCREASE WAS ACCOUNTED FOR BY A RISE IN FOREIGN CURRENCY TIME DEPOSITS, FOREIGN CURRENCY DEPOSITS WERE 6.3 PER CENT HIGHER IN THE THREE MONTHS TO JUNE AND 20.4 PER CENT HIGHER OVER THE 12 MONTHS.
FOREIGN CURRENCY SWAP DEPOSITS WERE VIRTUALLY UNCHANGED IN
LOWER HONG JUNE, AFTER HAVING INCREASED BY 0.5 PER CENT IN MAY. KONG DOLLAR MONEY MARKET INTEREST RATES HAVE MADE THEM LESS ATTRACTIVE.
ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW AT THE SLIGHTLY LOWER RATES OF 0.7 PER CENT IN JUNE AND 3.2 PER CENT IN THE THREE MONTHS TO JUNE. FOREIGN CURRENCY DEPOSITS, ON THE OTHER HAND, GREW AT THE SLIGHTLY HIGHER RATES OF 2.9 PER CENT IN JUNE AND 6.9 PER CENT IN THE THREE MONTHS TO JUNE.
TOTAL DEPOSITS WITH BANKS ROSE BY 1.3 PER CENT IN JUNE FOLLOWING AN INCREASE OF 2.3 PER CENT IN MAY. TOTAL DEPOSITS WITH DEPOSIT-TAKING COMPANIES GREW BY 3.1 PER CENT IN JUNE AFTER HAVING RECORDED ZERO GROWTH IN MAY.
OVER THE THREE MONTHS TO JUNE. THE GROWTH OF TOTAL DEPOSITS WITH BANKS, AT 5.0 PER CENT, WAS HIGHER THAN THAT WITH DEPOSIT- TAKING COMPANIES, AT 3.6 PER CENT.
HONG KONG DOLLAR MONEY SUPPLY
HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS CONTINUED TO INCREASE. WHILE HK$M1 (THE NARROWEST DEFINITION) ROSE BY 5.0 PER CENT IN JUNE, HK$M2 AND HK$M3, GREW AT THE SAME RATE OF 1.0 PER CENT.
THE CORRESPONDING INCREASES IN MAY WERE 2.0 PER CENT, 1.4 PER CENT AND 1.3 PER CENT.
IN THE