Money supply in March 2022

In March 2022, the M3 money supply increased by PLN 25.3bn. 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 25 April 2022 show that at the end of March 2022 the M3 aggregate amounted to PLN 2,009.6bn, i.e. PLN 25.3bn more than at the end of February 2021.

In March 2022, the value of cash in circulation included in the M3 aggregate rose by PLN 18.3bn, i.e. 5.2%, and amounted to PLN 372.4bn. The value of deposits and other claims of the sector of non-financial corporations increased by PLN 12.1bn, i.e. 3.0%, to PLN 415.6bn, and of the local government sector – by PLN 4.0bn, i.e. 4.9%, to PLN 85.1bn. The stock of deposits and other claims of the sector of households decreased by PLN 16.3bn, i.e. 1.6%, to PLN 1,019.6bn.

Non-financial corporate debt increased by PLN 3.2bn, i.e. 0.8%, to PLN 400.9bn, while household debt decreased by PLN 2.7bn, i.e. 0.3%, to PLN 823.6bn. The net debt of central government entities increased by PLN 8.7bn, i.e. 2.3%, to PLN 383.8bn.