Poland’s M3 money supply grew in January 2021 by 16.8 percent year on year and fell by 0.1 percent month on month to PLN 1.82 trillion (EUR 404 bn), the National Bank of Poland (NBP) announced on Monday.
Household deposits grew by 0.2 percent month on month to PLN 979.19 bn (EUR 217.6 bn).
Corporate deposits fell by 1.7 percent month on month to PLN 370.03 bn (EUR 82.2 bn).
Loans in the household sector decreased by 0.1 percent from December 2020 to PLN 787.9 bn (EUR 175.1 bn) while loans in the corporate sector went up by 1.4 percent month on month to PLN 327.3 bn (EUR 82.7 bn).
The M3 money aggregate determines the amount of money in circulation in the national currency. According to the OECD, the broad money aggregate (M3) “includes currency, deposits with an agreed maturity of up to two years, deposits redeemable at notice of up to three months and repurchase agreements, financial market fund shares/units and debt securities of up to two years”.