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BNR: Monetary indicators – May 2019

At end- May 2019, broad money (M3) amounted to RON 389,250.6 million, down 0.2 percent (or 0.7 percent in real terms) month-on-month. In year-on-year comparison, broad money rose by 9.1 percent (4.8 percent in real terms), Central bank (BNR) data show.

At end- May 2019, non-government loans loans to non-government sector granted by credit institutions advanced by 0.4 percent (down 0.1 percent in real terms) from April 2019 to RON 257,539.8 million. RON-denominated loans went up 0.7 percent (0.3 percent in real terms) and foreign currency-denominated loans decreased 0.3 percent when expressed in RON (down 0.1 percent when expressed in EUR). In year-on-year comparison, loans to non-government sector went up 7.7 percent (3.5 percent in real terms), on the back of the 10.3 percent increase in RON-denominated loans (5.9 percent in real terms) and the 3.0 percent increase in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans went up 0.8 percent).

Credit to general government advanced by 3.9 percent in May 2019 from the previous month to RON 104,833.4 million and by 3.6 percent (down 0.5 percent in real terms) versus the same year-ago period.

Deposits of non-government resident customers went down 0.2 percent month-on-month to RON 336,643.9 million in May 2019, and up 9.1 percent (4.8 percent in real terms) over the same year-ago period.

RON-denominated household deposits moved up 0.1 percent to RON 123,113.9 million month-on-month and up 8.7 percent (4.4 percent in real terms) year-on-year.

RON-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) decreased 0.7 percent to RON 98,345.8 million. At end-May 2019, RON-denominated deposits of other sectors climbed by 4.1 percent year-on-year.

Residents’ forex-denominated deposits decreased 0.2 percent to RON 115,184.1 million when expressed in domestic currency (when expressed in EUR, forex deposits moved up 0.05 percent to EUR 24,255.9 million). In year-on-year comparison, residents’ forex deposits expressed in RON grew 14.1 percent (when expressed in EUR, residents’ forex deposits rose by 11.7 percent).

At end-May 2019, forex deposits of households advanced month on month 0.7 percent (0.3 percent in real terms) when expressed in domestic currency (when expressed in EUR, forex deposits of households moved up 0.9 percent). At end-May 2019, households’ forex deposits climbed by 17.7 percent when expressed in domestic currency year-on-year (when expressed in EUR, households’ forex deposits expanded by 15.3 percent).

Forex-denominated deposits of resident households and other sectors (non-financial corporations and non-monetary financial institutions) went down 2.5 percent (down 2.9 percent in real terms) when expressed in RON (when expressed in EUR, forex deposits of other sectors decreased 2.3 percent). In year-on-year comparison, forex deposits of other sectors (non-financial corporations and non-monetary financial institutions) stood 5.3 percent higher when expressed in RON (when expressed in EUR, forex deposits of residents from other sectors rose by 3.1 percent).

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