Monetary Statistics for November 2008

Press Releases

31 Dec 2008

Monetary Statistics for November 2008

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.6% in November 2008. Hong Kong-dollar deposits edged up by 0.2% during the month, as the rise in savings deposits exceeded the decline in demand and time deposits. Foreign-currency deposits grew by 3.1% in November. Accounting for around 2.4% of foreign-currency deposits, renminbi deposits in Hong Kong declined further by 6.3% to RMB61.9 billion yuan at the end of November.

Total loans and advances shrank by 1.1% in November. Loans for use in Hong Kong decreased by 1.0% and loans for use outside Hong Kong declined by 1.8%. Because loans contracted but deposits grew, the Hong Kong-dollar loan-to-deposit ratio moderated further to 80.7% at the end of November.

Seasonally-adjusted Hong Kong-dollar M1 increased by 1.6% in November and rose by 11.2% from a year earlier. Unadjusted Hong Kong-dollar M3 climbed by 0.1% during the month but contracted by 11.9% year on year.


For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Hing-fung Wong, Manager (Communications), at 2878 1802

Hong Kong Monetary Authority
31 December 2008

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Last revision date : 31 December 2008