Rise in growth of money supply
PA Wellington The broadly defined money supply grew an estimated 17.2 per cent in the year to May, up from 15.7 per cent in April, the Reserve Bank said yesterday. The April figure has been revised downwards from the previous estimate of 16.2 per cent. Private sector credit growth at 20.8 per cent for the year to May has slowed from the 22.6 per cent growth recorded for April. The money and credit
aggregate growth rates cover the activities of trading banks and other institutions. More up-to-date figures covering only the banks (although compiled on a different basis) show deposit growth of 32.5 per cent over the year to June, 1985 (up from 26.8 per cent in May) and lending growth at 24.3 per cent (down from 28.2 per cent). The Reserve Bank says these figures suggest that trading banks are attracting business away from other financial institutions.
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Press, 13 July 1985, Page 8
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154Rise in growth of money supply Press, 13 July 1985, Page 8
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