Monetary Statistics for January 2006

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.2% in January 2006, as a 2.7% rise in Hong Kong dollar deposits more than offset a decline of 0.4% in foreign currency deposits. Within foreign currency deposits, renminbi deposits fell by 0.2% to RMB22.5 billion yuan in January.

Total loans and advances grew slightly by 0.3% in January, with loans for use in Hong Kong and outside Hong Kong rising by 0.04% and 2.5% respectively. Analysed by currency, Hong Kong dollar loans declined marginally while foreign currency loans expanded. As Hong Kong dollar deposits increased but Hong Kong dollar loans fell, the loan-to-deposit ratio decreased to 82.1% in January.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.0% in January but fell by 17.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose by 3.2% during the month, and by 9.0% and 9.1% respectively on a year-on-year comparison.

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
28 February 2006

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