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Money supply continues to decelerate in April

The annualized month-on-month growth index of the monetary base (M0) was, 99.5%, far from 113.7% in March, the National Bank of Hungary (MNB) reported on Monday.

The monetary base fell by Ft 56 billion to Ft 2,392.8 billion in April. Currency in circulation rose by Ft 56 billion to Ft 1,780.6 billion, the monthly average stock of other monetary financial institutions’ current account deposits increased by Ft 3.1 billion to Ft 558.7 billion and that of other monetary financial institutions’ overnight deposits fell by Ft 115.1 billion to Ft 53.4 billion.
The month-on-month growth index of M1 fell from 121.1% to 118.7%. The month-on-month growth index of M2 was down 2.4 % points, from 110.2% to 107.8%. The month-on-month growth index of M3 decreased from 110.8% to 107.9%.