Money supply in February 2022

In February 2022, the M3 money supply increased by PLN 23.8bn. The increase was mainly driven by a rise in the value of cash and a rise in deposits and other claims to non-financial corporations.

Data released by Narodowy Bank Polski on 22 March 2022 show that at the end of February 2022 the M3 aggregate amounted to PLN 1,984.2bn, i.e. PLN 23.8bn more than at the end of January 2021.

In February 2022, the value of cash in circulation included in the M3 aggregate rose by PLN 15.7bn, i.e. 4.6%, and amounted to PLN 354.1bn. The value of deposits and other claims of the sector of non-financial corporations increased by PLN 5.5bn, i.e. 1.4%, to PLN 403.5bn, and of the local government sector – by PLN 3.9bn, i.e. 5.1%, to PLN 81.1bn. The stock of deposits and other claims of the sector of households decreased by PLN 7.3bn, i.e. 0.7%, to PLN 1,035.9bn.

Non-financial corporate debt increased by PLN 11.3bn, i.e. 2.9%, to PLN 397.7bn, while household debt increased by PLN 1.3bn, i.e. 0.2%, to PLN 826.3bn. The net debt of central government entities increased by PLN 15.4bn, i.e. 4.3%, to PLN 375.0bn.