Financial Aggregates July 2006

Total credit provided to the private sector by financial intermediaries rose by 1.2 per cent over July 2006, following a rise of 1.1 per cent over June. For the year to July, total credit rose by 14.8 per cent.

Over the month of July, M3 grew by 0.9 per cent and broad money by 1.2 per cent. Over the year to July, broad money rose by 10.4 per cent.

Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, re-estimation of seasonal factors, and the quarterly incorporation of securitisation data. In the future, seasonal factors will be re-estimated each month rather than annually, as has been the practice.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks.

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