The annual rate of growth of Broad Money Liabilities (BML) decelerated in March 2016. BML grew by 7.7 per cent year-on-year in March 2016 compared to 9.4 per cent in February 2016. With the exception of time deposits, the main components of BML posted robust growth rates. Between end-February 2016 and end-March 2016, BML went down by Rs157 million, reflecting the decrease of Rs1,115 million in quasi money liabilities which fully offset the increases of Rs713 million and Rs245 million in narrow money liabilities and securities other than shares, respectively.
Net foreign assets contracted in March 2016. The annual growth rate of net foreign assets of depository corporations contracted by 9.0 per cent in March 2016 compared to a growth of 10.5 per cent in February 2016. Between end-February 2016 and end-March 2016, net foreign assets fell by Rs28,463 million or by 5.3 per cent to Rs507,496 million.
Claims on other sectors grew at a lower pace. The annual growth rate of claims on other sectors decreased from 8.0 per cent in February 2016 to 3.4 per cent in March 2016. Claims on other sectors fell by Rs4,359 million, from Rs439,360 million at the end of February 2016 to Rs435,001 million at the end of March 2016. Net claims on central government rose by Rs1,622 million or by 3.5 per cent, from Rs45,850 million at the end of February 2016 to Rs47,472 million at the end of March 2016.
Research and Economic Analysis Department
29 April 2016
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