4417_not-searchable
/en/bank-og-finansmarked/statistikker/m2/maaned
4417
High and increasing growth in money supply
statistikk
2007-02-28T10:00:00.000Z
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, January 2007

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High and increasing growth in money supply

The broad monetary aggregate M2 amounted to NOK 1 237 billion at end-January. Twelve-month growth was 13.9 per cent, up from 13.4 per cent to end-December. This is the highest growth in more than 10 years.

Monetary aggregate M2 - growth

The money supply of households amounted to NOK 674 billion at end-January. Twelve-month growth was 6.1 per cent, up from 5.7 per cent to end-December. Despite the increase, the growth in household money supply is still considerably lower than the growth in household gross domestic debt (12.1 per cent) as shown by the C2 statistics .

More information about the financial position of households .

Lower growth in non-financial enterprises

Non-financial enterprise money supply amounted to NOK 435 billion at end-January. Twelve-month growth was 31.9 per cent, down from 34.8 per cent the previous month. Despite the decline the growth is still at a high level. The high growth may be connected with high turnover and good profitability in business and industry. As shown by the C2 statistics, the growth in enterprise gross debt was also high (21.0 per cent).

The money supply M2 consists of notes and coins, unrestricted bank deposits, certificates of deposit and units in money market funds owned by households, non-financial enterprises, municipalities and financial enterprises other than state lending institutions, banks and money market funds.

Monetary aggregates, growth (per cent)
  Nov. 06 Dec. 06 Jan. 07
M0 - 12 mth -0.6 -16.7 -3.7
M1 - 12 mth 19.7 22.4 22.5
M2 - 12 mth 13.1 13.4 13.9
M2 - 3 mth mov.avg. 13.5 14.7