Financial Aggregates January 2010

Total credit provided to the private sector by financial intermediaries rose by 0.4 per cent over January 2010, following an increase of 0.3 per cent over December. Over the year to January, total credit rose by 1.3 per cent.

Housing credit increased by 0.7 per cent over January, following an increase of 0.7 per cent over December. Over the year to January, housing credit rose by 8.2 per cent. Housing credit rose over January due to growth in lending to both owner-occupiers and investors.

Other personal credit rose by 0.5 per cent over January, following a rise of 0.7 per cent over December. Over the year to January, other personal credit increased by 0.2 per cent.

Business credit declined by 0.1 per cent over January 2010, following a fall of 0.3 per cent over December. Over the year to January, business credit declined by 7.8 per cent.

Over the month of January, M3 rose by 0.3 per cent and broad money increased by 0.3 per cent. Over the year to January, broad money grew by 3.3 per cent.

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. Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.