Financial Aggregates February 2008

Total credit provided to the private sector by financial intermediaries rose by 0.7 per cent over February 2008, following a rise of 1.0 per cent over January. Over the year to February, total credit rose by 15.5 per cent.

Over the month of February, M3 grew by 0.9 per cent and broad money by 0.7 per cent. Over the year to February, broad money grew by 18.0 per cent.

From this month, the data will show owner-occupier and investor housing credit separately. Details of this change are provided in an explanatory note that accompanies this release.

Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks.