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Growth of money supply accelerates in September

The monetary base rose Ft 23.5 billion to Ft 2,109 billion in September, the National Bank of Hungary (MNB) said. The annualized month-on-month growth index of the monetary base M0 was 110.6% last month. The monthly average stock of current account deposits at other monetary financial institutions fell Ft 1.5 billion to Ft 499.3 billion, and the stock of overnight deposits rose Ft 7.2 billion to Ft 10.8 billion. The average stock of currency in circulation was Ft 1,598.9 billion in September, Ft 17.8 billion more than in the preceding month.
The growth index of the narrow monetary aggregate M1 rose from 118.2% to 119.7% in September, that of M2 rose from 112% to 114.1%, and that of M3 increased from 111.6% to 116.4%.