Monetary, credit growth up
PA Wellington Growth on monetary and credit aggregates continued to hold up in October. Figures from the Reserve Bank put private sector credit (PSC) growth for the month at 1.9 per cent, against 1.7 per cent and 0.6 per cent in September and August respectively. The annual rate of increase in PSC increased to 18.4 per
cent in October from 17.9 per cent in September. It peaked in June with a rate of 19.6 per cent. Domestic credit growth in October was 1.6 per cent, against 1.2 per cent and 1.5 per cent in September and August. The annual rate increased to 14.9 per cent from 14.7 per cent in September. The broadly-defined money aggregate, M 3, moderated slightly in October to a
monthly increase of 1.8 per cent and an annual rate of 16.5 per cent. M 3 rose 1.9 per cent in September and 0.8 per cent in August, and 17.2 per cent in the year to September. The narrow money aggregate, Ml, grew 52 per cent in the year to October, the highest annual rate for at least seven months. In September the rate was 48.5 per cent.
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Press, 26 December 1987, Page 9
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195Monetary, credit growth up Press, 26 December 1987, Page 9
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