|
Total deposits with authorised institutions increased 1.6% in November, while Hong Kong-dollar deposits edged up 0.2% as the rise in savings deposits exceeded the decline in demand and time deposits, the Monetary Authority says.
Foreign-currency deposits rose 3.1%. Accounting for around 2.4% of foreign-currency deposits, renminbi deposits in Hong Kong declined 6.3%, to RMB61.9 billion at the end of November.
Total loans and advances shrank 1.1%. Loans for use in Hong Kong dropped 1% and loans for use outside Hong Kong fell 1.8%. Because loans contracted but deposits grew, the Hong Kong-dollar loan-to-deposit ratio moderated to 80.7% at the end of the month.
Seasonally-adjusted Hong Kong-dollar M1 increased 1.6% in November and rose 11.2% from a year earlier. Unadjusted Hong Kong-dollar M3 rose 0.1% during the month but fell 11.9% year on year.
|
