Monetary Statistics for October 2005

Press Releases

30 Nov 2005

Monetary Statistics for October 2005

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.8% in October 2005, since a 2.0% rise in foreign currency deposits more than offset a decline of 0.3% in Hong Kong dollar deposits. Within foreign currency deposits, renminbi deposits declined slightly from RMB22.6 billion yuan in September to RMB22.5 billion yuan in October, the first decrease since the launch of personal renminbi deposit-taking business in February 2004.

Total loans and advances expanded by 1.1% in October, with loans for use in Hong Kong and outside Hong Kong rising by 1.0% and 1.4% respectively. Analysed by currency, both Hong Kong dollar lending and foreign currency loans increased. As Hong Kong dollar loans rose and Hong Kong dollar deposits fell, the loan-to-deposit ratio increased to 85.6% in October.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.2% in October but decreased by 6.6% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both fell by 0.3% during the month, but rose by 7.5% and 7.6% respectively on a year-on-year comparison.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority
30 November 2005

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