Reduced growth in money supply

The twelve-month growth in total money supply (M2) was 2.2 per cent to end-February, down from 2.7 per cent to end-January. This is mainly driven by the reduction in other-financial enterprise money supply growth.

The total money supply amounted to NOK 1 523 billion by end-February, this is a decrease from NOK 1 536 billion to end-January.

Reduced growth in the money supply from other financial enterprises

Other financial enterprise money supply (other than state lending institutions, banks and money market funds) amounted to NOK 145 billion at end-February. The twelve-month growth was -2.3 per cent to end-February, down from 5.1 per cent to end-January.

Low growth in non-financial enterprise money supply

Non-financial enterprise money supply amounted to NOK 493 billion at end-February. The twelve-month growth was 0.5 per cent to end-February, up from 0.1 per cent to the previous month. Non-financial enterprise money supply constituted 41.9 per cent of their gross domestic debt measured by the credit indicator C2.

Slight increase in household money supply

Household money supply amounted to NOK 835 billion by end-February, and this constituted more than half of the total money supply. The twelve-month growth in household money supply was 3.8 per cent to end-February, up from 3.6 to the previous month. The growth in household money supply was lower than the growth in household gross domestic debt, which was 6.7 per cent to end-February, as shown by the credit indicator C2. For more information on the financial position of households, see the financial accounts in the national accounts.

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