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The growth of foreign currency deposits was fairly stable at 1.3% against 1.6% in the previous month. Non- US dollar deposits grew by 2.6% while US dollar deposits grew by 0.1%.
Loans and Advances
Total outstanding loans and advances extended by authorised institutions rose by 2.2% in May, down from 5.2% in April. The slow down was entirely due to the moderation in the growth of foreign currency loans to 2.5% from 7.1% in the previous month. The growth in Hong Kong dollar loans, however, was very stable at 1.6% compared to 1.4% in April.
Money Supply
Total currency held by the public registered a decline of 0.9% in May. This was offset by 1.7% growth in Hong Kong dollar demand deposits. As a result, HK$M1 recorded a mild increase of 0.6% during the month.
The growth of HK$M2 and HK$M3, after adjusting for foreign currency swap deposits, both moderated to 0.6% this month, from 1.8% in April.
For further press enquiries, please contact the Press and Publications Section, Hong Kong Monetary Authority on 2878 8261.
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