Macao's broad money supply continues to grow in December-Xinhua

Macao's broad money supply continues to grow in December

Source: Xinhua

Editor: huaxia

2023-02-02 17:10:45

MACAO, Feb. 2 (Xinhua) -- Macao's broad money supply continued to grow by 5.1 percent month-on-month to 717.9 billion patacas (about 88.8 billion U.S. dollars) in December, the special administrative region's (SAR) monetary watchdog said on Thursday.

According to statistics released by the Monetary Authority of Macao, currency in circulation and demand deposits rose 1.7 percent and 11.0 percent, respectively. M1 thus increased by 8.2 percent from one month earlier.

Meanwhile, quasi-monetary liabilities rose 4.8 percent. The sum of these two items, broad money supply or M2, grew by 5.1 percent to 717.9 billion patacas.

On an annual basis, M1 dropped 4.1 percent, whereas M2 grew 4.4 percent.

The shares of pataca, Hong Kong dollar, renminbi and U.S. dollar in M2 were 38.6 percent, 41.6 percent, 8.2 percent and 9.9 percent, respectively.

According to the official data, resident deposits increased 5.2 percent from the preceding month to 697.4 billion patacas, while non-resident deposits rose 4.2 percent to 321.7 billion patacas.

On the other hand, public sector deposits with the banking sector decreased 2.4 percent to 242.5 billion patacas.

As a result, total deposits in the banking sector grew 3.4 percent from a month earlier to 1,261.7 billion patacas. (1 pataca equals 0.12 U.S. dollar)