Financial Conditions (November 2004)
PRESS RELEASE Release Date: December 24, 2004
Financial Conditions (November 2004)
Monetary Aggregates For the month of November 2004, the annual growth rates of the monetary aggregates M1A, M1B, and M2, measured on a daily average basis, were 14.14%, 13.90%, and 6.98%, respectively. The lower M1A and M1B growth rates were mainly due to the relatively higher base of last year. The M2 growth rate went up mainly owing to the substantial increase in net foreign capital inflows this month. Meanwhile, the annual growth rate of M2 plus bond funds held by the general public fell from 6.27% to 6.14%.
Direct and Indirect Finance At the end of November, the annual growth rate of total outstanding loans and investments of major financial institutions, including monetary institutions, the Chunghwa Post Co., as well as money market mutual funds, declined from 8.06% in the previous month to 7.96% mainly due to the decrease in the NT dollar value of foreign currency loans caused by the appreciation of NT dollar. If (1) loans and investments extended by life insurance companies and investment and trust companies, (2) non-accrual loans reclassified and bad loans written-off by major financial institutions, and (3) funds raised directly from capital markets were all taken into account, the total outstanding amount of funds raised by non-financial sectors showed an annual growth rate of 8.25%, lower than the 8.29% posted in October.
Notes: 1. The upcoming Financial Conditions (December 2004) is scheduled for release at 16:20 on January 25, 2005.
2. For the release schedule for the next six months, please check the CBC website at http://www.cbc.gov.tw/EngHome/ESDDS/calacal.asp
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