M3 and loan growth slows in February
Broad money (M3) growth slowed to 2.5% YoY (Jan: 3.3%), the lowest since September 2016
- Reason: This was mainly due to a sharp slowdown in fixed deposits (2.8%; Jan: 4.3%), a 33-month low, and currency in circulation (3.0%; Jan: 6.7%). Combined contributions to M3 growth shrank to 1.4 ppts (Jan: 2.3 ppts).
- MoM (-0.4%; Jan: 0.2%): fell to a six-month low, decreasing by RM9.2b (Jan: RM3.8b), the lowest since April 2021.
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