Saudi money supply growth slows in March
04 May 2010
(MENAFN) A report issued by the Saudi Arabian Monetary Agency (SAMA) showed that annual growth in Saudi Arabia?s M3 money supply slowed to 4.6 percent in March from a year earlier, down from 5.6 percent in February and 8.3 percent in January, Reuters reported
In February, time and savings deposits fell by almost 10 percent year on year.
Demand deposits, a more liquid component of M3, rose by an annual 20 percent in March after adding more than 21 percent in February.
Annual inflation in Saudi Arabia inched up to 4.7 percent in March after it accelerated to 4.6 percent in February, its highest level since June.
SAMA data showed that bank claims on the private sector – which measure lender confidence in the economy?s prospects – rose by an annual 2.4 percent in March versus a 1.6 percent annual rise in February.
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