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Monetary Statistics for October 2004

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased further by 1.8% in October. Of the total, Hong Kong dollar and foreign currency deposits rose by 2.3% and 1.3% respectively. Within foreign currency deposits, renminbi deposits amounted to RMB8.4 billion yuan in October, compared with RMB7.7 billion yuan in September.

Total loans and advances expanded for the third consecutive month by 0.6% in October, with loans for use in Hong Kong and outside Hong Kong rising by 0.6% and 0.3% respectively. Analysed by currency, Hong Kong dollar and foreign currency loans both recorded an increase. As Hong Kong dollar deposits rose notably more than Hong Kong dollar loans, the loan-to-deposit ratio declined to 83.8% in October.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 1.8% in October and by 24.2% from a year ago. While unadjusted Hong Kong dollar M2 and M3 rose by 2.1% and 2.0% respectively during the month, they declined by 0.5% and 0.7% from a year earlier.

For further enquiries, please contact:

Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
30 November 2004

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Last revision date: 1 August 2011
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