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Decreased money supply growth
The twelve-month growth in total money supply (M2) was 5.0 per cent to end-October, down from 5.8 per cent the previous month.
May 2014 | June 2014 | July 2014 | August 2014 | September 2014 | October 2014 | |
---|---|---|---|---|---|---|
12-month growth, M2 | 5.3 | 6.5 | 5.1 | 5.1 | 5.8 | 5.0 |
3-month moving average, M2 | 8.5 | 6.5 | 6.7 | 3.2 | 3.0 | .. |
12-month growth, households, M2 | 6.5 | 6.1 | 6.1 | 6.4 | 6.4 | 6.3 |
12-month growth, non-financial corporations, M2 | 3.6 | 5.9 | 3.2 | 3.9 | 5.5 | 5.3 |
![Figure 1. Money supply growth (M2) Figure 1. Money supply growth (M2)](/en/bank-og-finansmarked/statistikker/m2/maaned/_image/208499.png?_encoded=2f66666666666678302f35382f&_ts=14a04fd49a0)
The total money supply amounted to NOK 1 935 billion at end-October, up from NOK 1 927 billion at end-September.
Decreasing growth in money supply for households
Households’ money supply constitutes more than half of the total money supply. At end-October it accounted for NOK 1 082 billion, down from NOK 1 085 billion at end-September. The twelve-month growth in households’ money supply was 6.3 per cent to end-October, marginally 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-October according to the credit indicator C2.
Decreasing growth of money supply for non-financial corporations
Non-financial corporations’ money supply amounted to NOK 606 billion at end-October, up from NOK 590 billion at end-September. The twelve-month growth was 5.3 per cent to end-October, down from 5.5 per cent the previous month. Non-financial corporations’ money supply constituted 31 per cent of the total money supply at end-October.
Decreasing money supply growth for municipal government
Municipal government’s money supply amounted to NOK 76 billion at end-October, down from NOK 83 billion the previous month. The twelve-month growth rate was 3.9 per cent to end-October, down from 13.0 per cent to end-September.
Decreased money supply growth for other financial corporations
Other financial corporations’ money supply amounted to NOK 171 billion at end-October, up from NOK 168 billion at the end of the previous month. The twelve-month growth was -2.8 per cent to end-October, down from 0.2 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 1 935 billion at end-October, 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.
Decreased growth in base money
Base money (M0) amounted to NOK 139 billion at the end of October, up from NOK 122 billion at the end of September. The twelve-month growth in M0 was 24.1 per cent to end-October, down from 33.0 per cent the previous month.
The statistics is published with Monetary aggregates.
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