The SARs’ broad money supply retreated by 1.1% month-on-month to 716.1 billion in February, the monetary watchdog said on Tuesday. According to statistics released by the Monetary Authority of Macao, currency in circulation and demand deposits (collectively M1) dropped 3.3% and 4.1% respectively. M1 thus decreased by 3.9% from one month earlier. According to official data, resident deposits decreased 1% from the preceding month to 695 billion patacas, while non-resident deposits dropped 11.8% to 289.4 billion patacas. As a result, total deposits in the banking sector fell 3.5% from a month earlier to 1,214.4 billion patacas.
