Czech Money Supply Growth Accelerates Modestly

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The Czech Republic’s money supply growth improved slightly in November after slowing in the previous month, figures from the central bank showed Thursday.

The annual growth rate of the broad money aggregate M3 increased from the previous month to 10 percent in November, the Czech National Bank said.

In October, the rate of growth fell to 9.9 percent from 10.6 percent in September.

The M3 increased by CZK 34.5 billion month-on-month in November to CZK 5,320.3 billion. From a year ago, the figure grew by CZK 482.6 billion.

Lending to the private sector, which is the biggest counterpart of M3, grew 3.8 percent year-on-year following a 3.4 percent growth in October.

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