Financial Conditions (March 2025)

Monetary Aggregates   For the month of March 2025, the monthly growth rates of the monetary aggregates M1B and M2 (measured on a daily average basis) were -0.43% and 0.08%, respectively. The annual growth rates of M1B and M2 decreased to 1.82% and 4.38%, respectively, mainly because of net capital outflows and slower annual growth in bank loans and investments.  For the first three months of this year, the average annual growth rates of M1B and M2 were 3.09% and 5.03%, respectively.

Loans and Investments of Financial Institutions   At the end of March 2025, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of monetary financial institutions was 0.58%. Meanwhile, the annual growth rate decreased from 7.68% at the end of the previous month to 7.39% mainly because of slower annual growth in bank claims on the private sector and government enterprises. If loans and investments extended by life insurance companies and loans reclassified and written off by monetary financial institutions were taken into account, the total outstanding loans and investments of financial institutions would show an annual growth rate of 6.77%, lower than the 7.01% registered at the end of the previous month.

Notes: 1. The next Financial Conditions (April 2025) is scheduled for release at 16:20 on May 23, 2025.

            2. For the release schedule for the coming months, please check the Advance Release Calendar.