Investing.com – CBRT released February money and bank statistics. In the calculation in the statistics report, M1: Cash + accounts, M2: M1 + time deposit accounts, M3: M2 + repo, funds and securities.
According to this;
The large money supply M3 grew by 28.2% annually in February 2021, after an annual growth of 32.1% in January 2021. The annual growth rate of M1, the narrowest currency definition, was 62.2% in the previous month, but fell to 50.6% in February.
The annual growth rate of loans granted by the monetary sector for households was 37.5% in January 2021 and 35.3% in February 2021. Loans to non-financial institutions increased by 33.6% in January 2021 compared to the previous year, and increased by 30.6% in February 2021 compared to the previous year.
When the contribution of broad money supply components to the annual growth in money supply is analyzed; it was observed that time deposits were the largest contributor to the money supply, followed by demand deposits.
In February 2021, the increase in time deposits with 17.6% was effective in the annual growth of 28.2% observed in the wide money supply M3, followed by demand deposits with 8.4%, and the contribution of other items remained limited.
Reflection of M3 growth on provision items; 29.1% from the private sector, 6.6% from the general government, 0.9% from non-bank financial institutions and 0.8% from net foreign assets. On the other hand, other items (net) contributed by a decrease of 9.2%.
Author: Deniz Engin
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