Financial Aggregates January 2002

Release date: 28 February 2002

Credit provided to the private sector by financial intermediaries rose by 0.5 per cent in January, in seasonally adjusted terms, following a rise of 0.5 per cent in December. Total credit rose by 8.5 per cent over the year to January.

M3 and broad money rose by 1.8 and 1.1 per cent respectively in January, in seasonally adjusted terms. Over the year to January, M3 rose by 14.7 per cent and broad money rose by 10.8 per cent.

Housing and business credit growth rates have been revised over the past year due to a bank reclassifying lending between these two categories.

Growth rates are reported after adjusting for the effects of the breaks in series recorded in the footnotes to tables.  Figures showing the levels of financial aggregates are not adjusted for series breaks.

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