Non-residents’ deposits increase to MOP344b

The broad money supply (M2) retreated 0.6% in June to MOP751.5 billion. Resident deposits decreased 0.6% to MOP730.5 billion, while non-resident deposits increased 4% to MOP343.6 billion. According to the Monetary Authority of Macao, total loans to the private sector fell 1.7% to MOP1,085.6 billion, with domestic loans to the private sector dropping 0.5% to MOP532.2 billion. Meanwhile, currency in circulation dropped 0.6% whereas demand deposits rose 3.7%. M1 thus increased 2.4% from one month earlier. On the other hand, quasi-monetary liabilities decreased 0.9%. Currency in circulation dropped 0.6% whereas demand deposits rose 3.7%.