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Monetary Statistics for November 2007 According to statistics published today (Monday) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 1.1% in November, with the contraction in Hong Kong dollar deposits exceeding the expansion in foreign currency deposits. Hong Kong dollar time deposits declined by 18.3%, reflecting lower term deposits interest rates. On the other hand, Hong Kong dollar demand deposits expanded by 64.7% due to fund-raising activities in the stock market. Renminbi deposits grew by 7.0% to RMB 30.2 billion yuan at the end of November. Total loans and advances rose by 0.2% during the month. Loans for use in Hong Kong decreased by 0.5% whereas loans for use outside Hong Kong expanded by 4.2%. The Hong Kong dollar loan-to-deposit ratio increased to 71.7% at the end of November. On a seasonally adjusted basis, Hong Kong dollar M1 rose by 13.5% in November and by 36.8% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both decreased by 3.1% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew by 22.1% and 22.0% respectively.
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Hong Kong Monetary Authority
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