Monetary and credit statistics
Norges Bank's indicator of credit from domestic sources (C2) rose by 14.6 per cent in the twelve months to end-October, down from 15.0 per cent in the 12 months to end-September. The money supply (M2) grew by 12.3 per cent in the twelve months to end-October, up from 11.4 per cent to end-September.
Norges Bank's credit indicator (C2) rose by 14.6 per cent in the twelve months to end-October, down from 15.0 per cent in the 12 months to end-September. Growth in the three-month moving average for C2 was 15.7 per cent at end-September, down from 16.0 per cent at end-August. C2 is an approximate measure of the size of the gross domestic debt of the public (households, non-financial enterprises and municipalities) in NOK and foreign exchange. Twelve-month growth in credit to households was 12.8 per cent to end-October, down from 12.9 per cent to end-September. Credit to non-financial enterprises increased by 20.4 per cent in the twelve months to end-October, down from 21.6 per cent in the 12 months to the end of the previous month.
The money supply grew by 12.3 per cent in the twelve months to end-October, an increase from 11.4 per cent at the end of September. The money supply consists of notes and coins, unrestricted bank deposits, certificates of deposit and units in money market funds owned by households, non-financial enterprises, municipalities and financial enterprises other than state lending institutions, banks and money market funds. Twelve-month growth in the household money supply was 6.5 per cent up to end-October, down from 6.6 per cent to end-September. The money supply of non-financial enterprises rose by 32.8 per cent to end-October, up from 30.1 per cent to the end of the previous month.
Banks' interest margin edged down by 0.07 percentage point in the third quarter of 2006, to 2.18 per cent. The lending rate rose by 0.18 percentage point, to 4.40 per cent, while the deposit rate rose by 0.25 percentage point, to 2.22 per cent, by the end of the quarter. Interest rates on loans from life insurance companies rose by 0.07 percentage point to 4.20 per cent, while the lending rates of mortgage companies rose by 0.14 percentage point, to 3.72 per cent, by the end of the quarter. The lending rate of state lending institutions rose by 0.13 percentage point, to 3.20 per cent, in the same period.
As from 1 January 2007 this statistics is published on www.ssb.no
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