The annual growth of M1B and M2 money supplies, which last month slowed from a month earlier, reached its highest level in more than three years, mainly because of a higher base effect resulting from the Lunar New Year holiday that fell in February last year, the central bank said yesterday.
The M1B, a narrow measure of money in circulation, including currency and passbook savings deposits, rose 8.63 percent from a year ago, the central bank said in a report.
The broader M2 measurement — which includes M1B, time deposits, foreign currency deposits and mutual funds — increased 5.61 percent last month compared with the same period last year, the report said.
The daily average amount of M2 stood at NT$13.72 trillion (US$448.09 billion) last month, marking the highest level in the nation’s history, the bank’s latest data showed.
In the first two months of this year, the average annual growth rates of M1B and M2 were 9.27 percent and 5.79 percent respectively, statistics showed.
The increase in M2 remains within the central bank’s growth target of between 2.5 percent and 6.5 percent.