WEDNESDAY, MARCH 5, 1986
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FOREIGN CURRENCY SWAP DEPOSITS ALSO INCREASED, BY 4.6 PER CENT, AFTER AN INCREASE OF 2.0 PER CENT IN DECEMBER 1985. ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS GREW BY 3.2 PER CENT, AND BY 5.0 PER CENT IN THE THREE MONTHS TO JANUARY; ADJUSTED FOREIGN CURRENCY DEPOSITS GREW SLIGHTLY SLOWER. BY 3.6 PER CENT IN JANUARY, THEIR GROWTH IN THE THREE MONTHS TO JANUARY BEING 9.9 PER CENT.
DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 3.3 PER CENT IN JANUARY, FOLLOWING AN INCREASE OF 2.1 PER CENT IN DECEMBER 1985; TOTAL DEPOSITS WITH DEPOSIT-TAKING COMPANIES GREW BY 3.5 PER CENT AFTER HAVING INCREASED BY 2.2 PER CENT IN DECEMBER 1985.
IN THE THREE MONTHS TO JANUARY, THE GROWTH OF TOTAL DEPOSITS WITH BANKS WAS 7.6 PER CENT. WHILE THAT OF DEPOSITS WITH DEPOSIT-TAKING COMPANIES WAS 5.8 PER CENT; OVER THE 12 MONTHS THE RESPECTIVE GROWTH RATES WERE 25.9 PER CENT AND 24.4 PER CENT.
HONG KONG DOLLAR MONEY SUPPLY
HONG KONG DOLLAR MONEY SUPPLY ON ALL DEFINITIONS INCREASED. BECAUSE OF THE SEASONAL INCREASE IN THE PUBLIC'S HOLDINGS OF NOTES AND COINS AHEAD OF THE LUNAR NEW YEAR, HK$M1 (THE NARROWEST DEFINITION) ROSE RAPIDLY BY 4.6 PER CENT IN JANUARY, FOLLOWING AN INCREASE OF 1.2 PER CENT IN DECEMBER 1985.
HK$M2 AND HK$M3 BOTH ROSE BY 3.3 PER CENT THE CORRESPONDING INCREASES IN DECEMBER 1985 WERE 1.5 PER CENT AND 1.4 PER CENT.
IN THE THREE MONTHS TO JANUARY, HK$M1 GREW BY 6.3 PER CENT, HaM2 BY 5.8 PER CENT, AND HK$M3 BY 5.4 PER CENT OVER THE 12 MONTHS, THE CORRESPONDING INCREASES WERE 24.8 PER CENT, 14.8 PER CENT AND 15.1 PER CENT.
AFTER ADJUSTING FOR SWAP DEPOSITS, HK3M2 AND HK3M3 GREW MARGINALLY FASTER, AT 3.4 PER CENT AND 3.5 PER CENT RESPECTIVELY IN JANUARY. IN THE THREE MONTHS TO JANUARY, THE CORRESPONDING GROWTH RATES WERE 6.1 PER CENT AND 5.7 PER CENT.
TOTAL MONEY SUPPLY
TOTAL MONEY SUPPLY ON ALL DEFINITIONS ROSE FURTHER IN JANUARY. TOTAL M1 GREW BY 4.8 PER CENT, AFTER AN INCREASE OF 0.5 PER CENT IN DECEMBER 1985. TOTAL M2 AND TOTAL M3 GREW BY 3.5 PER CENT AND 3.4 PER CENT RESPECTIVELY; THE CORRESPONDING GROWTH RATES IN DECEMBER 1985 WERE 2.2 PER CENT AND 2.3 PER CENT.
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