Strong money supply growth

Published:

The twelve-month growth in the monetary aggregate M3 was 7.8 per cent to end-March 2020, up from 4.0 per cent to end-February. This is the greatest change in growth since the production of the money supply M3 started.

Written by: Heidi Vegsund

Households’ growth in M3 was 6.5 per cent to end-March, up from 4.6 per cent the previous month. More than half of M3 is held by households.

The money supply growth for non-financial corporations was 8.1 per cent to end-March, up 4.0 percentage points from the previous month.

The growth for municipal government was -6.0 per cent, down from 1.2 per cent to end February.

The money supply growth for other financial corporations was 31.3 per cent to end-March, up from 0.5 the previous month.

It is reasonable to assume that these great changes are due to the uncertain economic situation.

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