XN000022-1984-02-01 — Page 4

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WEDNESDAY, FEBRUARY 1, 1964

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by 5.47, the first quarterly decline since the

abolition of interest withholding tax on foreign

currency deposits in February 1982. For the year as A

whole, however, foreign currency deposits increased by

40.7%.

Hong Kong Dollar Money Supply

Hong Kong dollar money supply on all

definitions rose significantly in December.

HK$M1

rose by 2.2%, reversing the decline of 0.5% in

November. HK$M2 and HK$M3 grew by 3.6% and 4.0%

respectively. The corresponding rates of increase in

November were 4.6% and 5.5%.

In the three months to December, HK$M1 rose

by 2.5%, HK$M2 by 9.4% and HK$M3 by 13.17. Over the

year, the corresponding growth rates were 8.4%, 14.8%

and 12.6%.

Total Money Supply

Total M1 rose by 1.9% after remaining

unchanged in November. Total M2 rose by 3.1% and

total M3 by 3.3% in December, faster than the

respective growth rates of 1.2% and 2.3% in November.

In the three months to December, total Ml rose by

3.0%, total M2 by 1.7% and total M3 by 3.9%. Over the

year, the corresponding growth rates were 12.4%, 24.7%

and 23.7%.

/Loans