Macao's M2 money supply up 12.5 pct in October on-year

MACAO, Dec. 5 (Xinhua) -- Macao's M1 and M2 money supply grew 2.3 percent and 12.5 percent year-on-year respectively in October 2017, the Special Administrative Region's Monetary Authority said on Tuesday.

Among the M2 money, shares of pataca, Hong Kong dollar, renminbi and U.S. dollar were 31.1 percent, 53.6 percent, 4.0 percent and 9.3 percent respectively in October.

M1 refers to physical money supply, including cash, coins and checking deposits. M2 is a measure of the money supply that includes all elements of M1 as well as "near money" such as savings deposits, securities and mutual funds that are less liquid and not easily transferable to physical money.

Compared to September, M1 increased 8.1 percent. M2 increased 2.3 percent month-to-month to 580.9 billion patacas (about 72.38 billion U.S. dollars), Monetary Authority of Macao said in its latest report.

The report also indicated that resident deposits grew 2.4 percent in October from last month to 566.4 billion patacas (about 70.57 billion U.S. dollars) whereas non-resident deposits also rose 0.6 percent to 259.3 billion patacas (about 32.31 billion U.S. dollars).

Total deposits in the banking sector grew 1.2 percent from a month earlier to 1,011.5 billion patacas (about 126.03 billion U.S. dollars), the report said. Enditem