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175717
Increased money supply growth
statistikk
2014-10-31T10:00:00.000Z
Banking and financial markets
en
m2, The money supply M2, money, notes and coins, assetsFinancial indicators, Banking and financial markets
false

The money supply M2, September 2014

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Increased money supply growth

The twelve-month growth in total money supply (M2) was 5.9 per cent to end-September, up from 5.2 per cent the previous month.

Monetary aggregates. Percentage changePublished 31 October 2014
April 2014May 2014June 2014July 2014August 2014September 2014
12-month growth, M26.05.56.75.35.25.9
3-month moving average, M27.48.96.76.93.2..
12-month growth, households, M26.36.56.16.16.46.2
12-month growth, non-financial corporations, M25.73.76.03.34.15.7

Source: Statistics Norway

The total money supply amounted to NOK 1 928 billion at end-September, down from NOK 1 939 billion at end-August.

Decreasing growth in money supply for households

Households’ money supply constitutes more than half of the total money supply. At end-September it accounted for NOK 1 083 billion, down from NOK 1 094 billion at end-August. The twelve-month growth in households’ money supply was 6.2 per cent to end-September, down from 6.4 per cent the previous month.

The growth in households’ money supply was lower than the growth in households’ gross domestic debt, which amounted to 6.5 per cent to end-September according to the credit indicator C2.

Increasing growth of money supply for non-financial corporations

Non-financial corporations’ money supply amounted to NOK 590 billion at end-September, down from NOK 595 billion at end-August. The twelve-month growth was 5.7 per cent to end-September, up from 4.1 per cent the previous month. Non-financial corporations’ money supply constituted 31 per cent of the total money supply at end-September

Increasing money supply growth for municipal government

Municipal government’s money supply amounted to NOK 84 billion at end-September, up from NOK 75 billion the previous month. The twelve-month growth rate was 13.3 per cent to end-September, up from 13.2 per cent to end-August.

Increased money supply growth for other financial corporations

Other financial corporations’ money supply amounted to NOK 171 billion at end-September, down from NOK 174 billion at the end of the previous month. The twelve-month growth was 1.4 per cent to end-September, up from -0.8 per cent the previous month.

Steady composition of money supply

The composition of the money supply remains steady. The broad monetary aggregate M2 amounted to NOK 1 928 billion at end-September, of which the major part, 94 per cent, consisted of bank deposits. In comparison, notes and coins accounted for 2.3 per cent. The rest of the broad monetary aggregate consisted of shares in money market funds and certificates of deposits, which accounted for 3.6 and 0.1 per cent respectively.

Increased growth in base money

Base money (M0) amounted to NOK 122 billion at the end of September, down from NOK 140 billion at the end of August. The twelve-month growth in M0 was 33.0 per cent to end-September, up from 15.1 per cent the previous month.