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Continued growth in October money supply

An increase in the total amount of loans and a decline in the total deposits

The city’s money supply continued to grow in the month of October, according to the latest data released by the Monetary Authority of Macau (AMCM).
In October, official data revealed that the currency in circulation and demand deposits had increased 0.5 per cent and 9.5 per cent month-on-month, respectively.
The money supply (M1) and quasi-monetary liabilities both increased 7.7 per cent and 1.2 per cent, respectively, compared to the figures recorded in September. M2, which is the sum of the aforementioned two items, also saw an increase of 2 per cent to MOP516.2 billion (US$64.6 billion) month-on-month.
On a year-on-year comparison, M1 and M2 went up 15.7 per cent and 8 per cent, respectively.
In October, the shares of Pataca (MOP), Hong Kong Dollar (HKD), Chinese Yuan (RMB) and United States Dollar (US$) in M2 were 30.9 per cent, 52.9 per cent, 5 per cent and 8.7 per cent, respectively.
Meanwhile, deposits made by residents underwent a month-on-month increase of 2.1 per cent to MOP502.8 billion whilst deposits made by foreigners saw a decline of 4.2 per cent to MOP264.9 billion compared to the amount registered in September.
Public sector deposits with the banking sector, on the other hand, declined 2 per cent, to MOP157 billion.
The shares of MOP, HKD, RMB and US$ in total deposits reached 21.3 per cent, 47.5 per cent, 5.7 per cent and 22.8 per cent in October, respectively.
According to AMCM data, domestic loans received by the private sector registered a month-on-month decrease of 0.3 per cent to MOP413.9 billion in October. Of the total, MOP122.3 billion was denominated in Macau Patacas, while MOP268.5 billion was denominated in Hong Kong dollars, accounting for 29.6 per cent and 64.9 per cent, respectively.
For external loans, the amount in October reached a total of MOP373 billion, up 1.5 per cent month-on-month. Within the total amount of external loans in October, loans denominated in MOP, HKD, RMB and US$ occupied 1.8 per cent (MOP6.6 billion), 28.8 per cent (MOP107.5 billion), 10.6 per cent (MOP39.6 billion) and 52.8 per cent (MOP196.8 billion), respectively.
In the month of October, the loan-to-deposit ratio for the residential sector saw a decrease of 0.5 percentage points month-on-month to 62.7 per cent. Both resident and non-residential sectors’ ratio increased 1.2 percentage points to 85.1 per cent.