Money supply in January 2024

In January 2024, the M3 money supply decreased by PLN 11.0bn. The decrease was mainly driven by a decline in deposits and other claims of the non-financial corporation sector.

Data released by Narodowy Bank Polski on 22 February 2024 show that at the end of January 2024, the M3 aggregate amounted to PLN 2,257.3bn, i.e. it was by PLN 11.0bn lower than at the end of December 2023.

In January 2024, the value of deposits and other claims of the sector of households included in the M3 aggregate increased by PLN 5.6bn, i.e. 0.5%, and amounted to PLN 1,208.30bn. In the case of the local government sector, it grew by PLN 4.9bn, or 8.0%, to PLN 65.6bn, but decreased by PLN 19.5bn, i.e. 3.9%, to PLN 484.8bn in the sector of non-financial corporations.

Household debt increased by PLN 3.4bn, i.e. 0.4%, to PLN 780.0bn, whereas non-financial corporate debt increased by PLN 2.0bn, i.e. 0.5%, to PLN 402.6bn. The debt of other financial institutions declined by PLN 4.9bn, i.e. 2.2%, to PLN 216.5bn, the net debt of central government entities decreased by PLN 31.4bn, i.e. 7.6%, to PLN 382.9bn.