Residents’ deposits decrease by 2.6 pct

Residents’ deposits decreased 2.6 percent month-on-month in February, reaching MOP469.6 billion, according to data released by the Monetary Authority of Macau (AMCM). MOP and USD deposits increased at respective rates of 0.1 percent and 1.5 percent while HKD and RMB decreased 3.1 percent and 8.7 percent respectively. AMCM said in a statement that currency in circulation increased 8.1 percent while demand deposits dropped 4.5 percent. Domestic loans to the private sector increased 0.4 percent from a month ago to MOP346.2 billion. Among these, MOP94.2 billion was MOP-denominated and MOP224.9 billion was denominated in HKD. External loans grew 1.8 percent to MOP355 billion.

SMG foresees only one level eight typhoon

The Macao Meteorological and Geophysical Bureau (SMG) is forecasting only one signal 8 typhoon this year. SMG has issued a statement saying that Macau will be hit by four to six tropical storms this year. The Bureau said that the Maysak typhoon currently heading toward the Philippines will not affect Macau. According to CNN, the storm has weakened and is expected to continue to lose strength before it reaches the Philippines.  Temperatures this summer are expected to average 28 degrees Celsius.