XN000022-1990-02-05 — Page 7

MONDAY, FEBRUARY 5, 1990

SAVINGS DEPOSITS ROSE BY 6.3 PER CENT DURING DECEMBER WHILE TIME DEPOSITS WERE LITTLE CHANGED FROM THE PREVIOUS MONTH.

FOR THE YEAR 1989 AS A WHOLE, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 11.8 PER CENT, AND WHEN SWAP DEPOSITS ARE INCLUDED, BY 15.5 PER CENT, LARGELY IN LINE WITH THE GROWTH RATE OF THE ECONOMY IN MONEY TERMS IN 1989.

FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS ROSE BY 2.5 PER CENT IN DECEMBER, AFTER INCREASES OF 3.3 PER CENT AND 3.4 PER CENT IN OCTOBER AND NOVEMBER RESPECTIVELY.

AMONG THESE DEPOSITS, U.S. DOLLAR DEPOSITS INCREASED BY 4.1 PER CENT IN DECEMBER WHILE NON-U.S. DOLLAR DEPOSITS GREW BY 0.8 PER CENT. OVER THE YEAR, TOTAL FOREIGN CURRENCY DEPOSITS INCREASED BY 24.3 PER CENT.

FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 2.7 PER CENT IN DECEMBER. AFTER A ZERO GROWTH IN OCTOBER AND A DECLINE OF 0.8 PER CENT IN NOVEMBER.

ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR DEPOSITS ROSE BY 1.6 PER CENT IN DECEMBER AND BY 15.5 PER CENT COMPARED WITH A YEAR EARLIER. ON THE OTHER HAND, FOREIGN CURRENCY DEPOSITS, ADJUSTED TO EXCLUDE SWAP DEPOSITS, INCREASED BY 2.5 PER CENT IN DECEMBER AND BY 22.4 PER CENT OVER THE YEAR.

DEPOSITS OF ALI. CURRENCIES WITH BANKS ROSE BY 2.2 PER CENT IN DECEMBER WHILE THOSE WITH DEPOSIT-TAKING COMPANIES RECORDED A MARGINAL GROWTH OF 0.1 PER CENT. FOR 1989 AS A WHOLE, THE FORMER BY 20.4 PER CENT WHILE THE LATTER GREW BY 5.2 PER CENT.

MONEY SUPPLY

ROSE

HK$M2

· 1

HK$MI DECLINED MARGINALLY BY 0.6 PER CENT IN DECEMBER, WHILE AND HK$M3 INCREASED BY 2. PER CENT AND 1.8 PER CENT RESPECTIVELY. THEIR RESPECTIVE GROWTH RATES IN NOVEMBER WERE 3.9 PER CENT 2.4 PER CENT AND 2.0 PER CENT. FOR 1989 AS A WHOLE, HK$M1, HK$M2 AND HK$M3 ROSE BY 7.5 PER CENT, 13.8 PER CENT AND 11.6 PER CENT RESPECTIVELY.

ADJUSTED TO TAKE ACCOUNT OF SWAP DEPOSITS, HK$M2 INCREASED BY 2.2 PER CENT IN DECEMBER AND BY 17.1 PER CENT COMPARED WITH A YEAR EARLIER. HK$M3 INCREASED BY 1.9 PER CENT IN DECEMBER AND BY

PER CENT OVER THE YEAR.

15.0

2.2

TOTAL M1, M2 AND M3 ROSE BY 0.3 PER CENT, 2.4 PER CENT AND PER CENT RESPECTIVELY IN DECEMBER. THEIR CORRESPONDING GROWTH RATES IN NOVEMBER WERE 3.2 PER CENT, 2.9 PER CENT AND 2.8 PER CENT. OVER THE YEAR, TOTAL M1, M2 AND M3 GREW BY 6.8 PER CENT, 19.9 PER CENT 18.7 PER CENT RESPECTIVELY.

AND

/LOANS AND