Macao SAR's broad money supply expands in July

MACAO - The Monetary Authority of Macao reported on Friday that the Special Administrative Region's broad money supply (M2) continued to grow in July.

According to the AMCM, currency in circulation and demand deposits increased by 1.2 percent and 1.7 percent, respectively, from the previous month. Quasi-monetary liabilities also grew 1.7 percent, driving M2 to increase by 1.7 percent, standing at 838.6 billion patacas ($104 billion).

Statistics showed that resident deposits climbed 1.7 percent month-on-month to 817.3 billion patacas. In contrast, non-resident deposits fell 2.6 percent to 364.1 billion patacas. Overall, HKD deposits accounted for the largest share of total deposits at 46.4 percent.

On the lending side, domestic loans to the private sector decreased 1.0 percent to 507.4 billion patacas. External loans, however, surged 7.8 percent to 563.2 billion patacas, bringing total loans of the banking sector up 3.4 percent. (1 pataca equals $0.12)