Macau’s broad money supply declines in February

MACAU: Macau’s broad money supply fell 0.6% month-on-month to 688.3 billion patacas (about $85.1 billion or RM359.1 billion) in February 2022, according to the monetary watchdog of the special administrative region.

Statistics released by the Macau Monetary Authority showed that currency in circulation and demand deposits fell by 4% and 0.7% respectively.

M1 thus fell by 1.7%t compared to the previous month.

At the same time, quasi-monetary liabilities decreased by 0.4%. The sum of these two components, ie the broad money supply or M2, fell by 0.6% to 688.3 billion patacas (RM358bil) .

On an annual basis, M1 and M2 fell by 2% and 1.1% respectively.

The shares of the pataca, Hong Kong dollar, yuan and US dollar in M2 were 36%, 49.4%, 5.7% and 7.2% respectively.

Resident deposits fell 0.5% from the previous month to 667.6 billion patacas (RM348bil), while non-resident deposits increased 0.1% to 383.7 billion patacas ( RM199.8bil).

Meanwhile, public sector deposits with the banking sector increased by 0.9% to 264.7 billion patacas (RM138bil).

Domestic loans to the private sector rose 0.1% from a month ago to 561.9 billion patacas (RM293bil), while external loans fell 2.7% to 743.8 billion patacas (RM387bil).

At the end of February, the resident sector’s credit/deposit ratio fell from 60.2% at the end of January to 60.3%.

On the other hand, the ratio for both the resident and non-resident sectors decreased from 100.7% to 99.2%. — Xinhua

About the author