Monetary Statistics for May 2007

Press Releases

29 Jun 2007

Monetary Statistics for May 2007

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 2.4% in May 2007. Hong Kong dollar and foreign currency deposits rose by 3.1% and 1.6% respectively. Within foreign currency deposits, renminbi deposits increased by 2.6% to RMB 26.2 billion yuan at the end of May.

Total loans and advances expanded by 2.2% during the month, with Hong Kong dollar and foreign currency loans increasing by 2.4% and 1.5% respectively. Loans for use in Hong Kong and outside Hong Kong grew by 2.1% and 2.4% respectively. Reflecting a smaller increase in loans relative to deposits, the Hong Kong dollar loan-to-deposit ratio declined to 73.3% at the end of May.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 1.2% in May and by 11.2% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both expanded by 2.8% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 both increased by 6.8%.

Annex

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Hing-fung Wong, Officer (Press), at 2878 1802

Hong Kong Monetary Authority
29 June 2007

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Last revision date : 29 June 2007