Macao's broad money supply rebounds in October

MACAO, Dec. 5 (Xinhua) -- Macao's broad money supply rebounded by 0.2 percent month-on-month to 681.0 billion patacas (about 85.2 billion U.S. dollars) in October, the special administrative region's (SAR) monetary watchdog said on Monday.

According to statistics released by the Monetary Authority of Macao, currency in circulation and demand deposits dropped 0.6 percent and 1.7 percent, respectively. M1 thus decreased by 1.3 percent from one month earlier.

On the other hand, quasi-monetary liabilities increased 0.4 percent. The sum of these two items, broad money supply or M2, rebounded by 0.2 percent to 681.0 billion patacas.

On an annual basis, M1 and M2 fell 8.4 percent and 1.7 percent, respectively.

The shares of pataca, Hong Kong dollar, renminbi (RMB) and U.S. dollar in M2 were 36.4 percent, 44.2 percent, 7.6 percent and 10.0 percent, respectively.

According to the official data, resident deposits increased 0.2 percent from the preceding month to 660.8 billion patacas while non-resident deposits rose 3.6 percent to 327.1 billion patacas.

Meanwhile, public sector deposits with the banking sector grew 1.0 percent to 254.2 billion patacas.

As a result, total deposits in the banking sector increased 1.2 percent from a month earlier to 1,242.1 billion patacas. (1 pataca equals 0.13 U.S. dollar)