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Published:
This is an archived release.
Still growth in money supply
The twelve-month growth in total money supply (M2) was 2.6 per cent to end-April, up from 2.3 per cent to end-March. The increase in the M2 growth came mainly from households.
The total money supply amounted to NOK 1 516 billion by end-April, this is a decrease from NOK 1 521 billion to end-March.
Households main cause of the growth
Household money supply amounted to NOK 825 billion by end-April, and this constituted more than half of the total money supply. The twelve-month growth in household money supply was 4.0 per cent to end-April, up from 3.6 to end-March. The growth in household money supply was lower than the growth in household gross domestic debt, which was 6.3 per cent to end-April, according to the credit indicator C2 . For more information on the financial position of households, see the financial accounts in the national accounts .
Unaltered growth in non-financial enterprises, decrease in other financial enterprises
Non-financial enterprise money supply amounted to NOK 494 billion at end-April, down from NOK 502 billion at end-March. The twelve-month growth was -0.6 per cent to end-April, unaltered from the previous month. Non-financial enterprise money supply constituted 41.9 per cent of their gross domestic debt measured by the credit indicator C2 .
Other financial enterprise money supply (other than state lending institutions, banks and money market funds) amounted to NOK 134 billion at end-April, down from NOK 142 billion at end-March. The twelve-month growth was 5.0 per cent to end-April, down from 5.4 per cent to end-March.
November 2009 |
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M0 - 12 mth. | -43.6 | -13.7 | -35.1 | -48.8 | -27.5 | -23.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M1 - 12 mth. | 4.3 | 2.5 | 2.9 | 2.8 | 1.6 | 2.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M2 - 12 mth. | 2.4 | 3.4 | 2.7 | 2.2 | 2.3 | 2.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M2 - 3 mth. moving average | 2.0 | 1.5 | 1.4 | 0.4 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M2 households - 12 mth. | 4.9 | 3.5 | 3.6 | 3.8 | 3.6 | 4.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
M2 non-financial enterprises - 12 mth. | 1.6 | 2.3 | 0.2 | 0.6 | -0.6 | -0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Composition of money supply
The broad monetary aggregate M2 amounted to NOK 1 516 billion at end-April, of which the major part, 91.0 per cent, consisted of bank deposits. In comparison, notes and coins only accounted for 2.9 per cent. The rest of the broad money mainly consisted of shares in money market funds and certificates of deposits, which accounted for 5.8 and 0.3 per cent respectively.
The money supply (broad monetary aggregate) M2 consists of notes and coins, unrestricted bank deposits, certificates of deposit and units in money market funds owned by the money-holding sector i.e. households, non-financial enterprises, municipalities and financial enterprises other than state lending institutions, banks and money market funds. |
Tables
The statistics is published with Monetary aggregates.
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