Monetary Statistics for October 2018

Press Releases

30 Nov 2018

Monetary Statistics for October 2018

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 0.2% in October 2018. Hong Kong-dollar deposits decreased by 0.5% during the month, as the decline in savings deposits exceeded the increase in demand and time deposits. Overall foreign-currency deposits picked up by 0.9% in October. Renminbi deposits in Hong Kong rose by 2.8% to RMB617.3 billion at the end of October. The total remittance of renminbi for cross-border trade settlement amounted to RMB335.8 billion in October, compared with RMB348.8 billion in September.

Total loans and advances declined by 0.2% in October. Among the total, loans for use in Hong Kong (including trade finance) edged down by 0.1% from a month ago, while loans for use outside Hong Kong declined by 0.6%. The Hong Kong-dollar loan-to-deposit ratio edged up to 85.3% at the end of October from 85.0% at the end of September, as Hong Kong-dollar deposits decreased at a faster pace than Hong Kong-dollar loans.

On a seasonally-adjusted basis, Hong Kong-dollar M1 declined by 0.9% in October and dropped by 4.7% year-on-year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.4% during the month and fell by 2.1% from a year earlier.

 

Annex

 
Hong Kong Monetary Authority
31 November 2018

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Last revision date : 30 November 2018