Monetary Statistics for November 2018

According to statistics published today (Monday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 0.6% in November 2018. Hong Kong-dollar deposits decreased by 0.5% during the month, mainly driven by declines in demand and time deposits. Overall foreign-currency deposits picked up by 1.7% in November. Renminbi deposits in Hong Kong stayed virtually unchanged at RMB617.5 billion at the end of November. The total remittance of renminbi for cross-border trade settlement amounted to RMB393.0 billion in November, compared with RMB335.8 billion in October.

Total loans and advances edged up by 0.1% in November. Among the total, loans for use in Hong Kong (including trade finance) grew by 0.8% from a month ago, while loans for use outside Hong Kong declined by 1.4%. The Hong Kong-dollar loan-to-deposit ratio picked up to 86.2% at the end of November from 85.3% at the end of October, as Hong Kong-dollar deposits declined while Hong Kong-dollar loans increased.

On a seasonally-adjusted basis, Hong Kong-dollar M1 increased by 0.9% in November but decreased by 2.1% year-on-year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.5% during the month but grew by 3.5% from a year earlier.

Annex

 
Hong Kong Monetary Authority
31 December 2018