Increase in M3
PA Wellington New Zealand’s broad monetary aggregate (M 3 is estimated to have increased by 12.4 per cent in the year ended August, up slightly on the 11 per cent growth for the year ended July, the Reserve Bank said. Seasonally adjusted M 3 increased 1.7 per cent for August following an average monthly increase of 0.2 per cent over the June quarter. Private sector credit is estimated to have increased by 16 per cent in the year ended August, down slightly on the 16.4 per cent increase recorded for the July year. The growth in seasonally adjusted private sector credit was 1.1 per cent for August, up slightly on the monthly average increase of 0.9 per cent growth rate over the June quarter. Over the year ended August the narrow monetary aggregate (Ml) grew by 23.3 per cent, up on the 17.7 per cent increase recorded in the July year.
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Press, 14 October 1986, Page 32
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154Increase in M3 Press, 14 October 1986, Page 32
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