Broad money supply M3 increased 24 percent year on year

The broad money supply grew 24 percent year-on-year in October, followed by the M3.

The Central Bank of the Republic of Turkey (CBRT) announced the Monthly Money and Bank Statistics. Accordingly, the broad money supply M3 grew by 24 percent annually in October 2021, after an annual growth of 21.7 percent in September 2021. The annual growth rate of M1, which is the narrowest definition of money, was 18.2 percent in the previous month and rose to 22.2 percent in October. The annual growth rate of loans granted by the monetary sector was 15.8 percent in September 2021 for households, while it was 15.9 percent in October 2021. Lending to non-financial institutions increased by 13.2% in September and October 2021 compared to the previous year.

When the contribution of broad money supply components to annual growth in money supply is analyzed; time deposits were the item that contributed the most to the money supply, followed by demand deposits. The increase in time deposits with 14.6 percent was effective in the annual growth of 24 percent in the large money supply M3 in October 2021, followed by demand deposits with 7.5 percent, and the contribution of other items remained at a limited level.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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