Monetary Statistics for August 2003

Press Releases

30 Sep 2003

Monetary Statistics for August 2003

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew for the fifth consecutive month by 0.5% in August. The increase was attributable to a 0.7% rise in Hong Kong dollar deposits and a 0.1% increase in foreign currency deposits.

Total loans and advances shrank by 0.4% in August. The drop was broad-based, with loans for use in Hong Kong and those outside Hong Kong falling by 0.4% and 1.0% respectively. Analysed by currency, Hong Kong dollar denominated loans and foreign currency loans both recorded a small decline. As Hong Kong dollar deposits increased while Hong Kong dollar loans decreased, the Hong Kong dollar loan-to-deposit ratio fell to 84.8% in August.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.2% during the month and by 20.6% from a year ago. Unadjusted Hong Kong dollar M2 and M3 rose by 0.9% and 0.7% respectively during the month, and by 2.7% and 2.5% on a year-on-year comparison.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Kevin Ip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
30 September 2003

Table

Latest Press Releases
Last revision date : 30 September 2003