Poland M3 Money Supply YoY

Neueste Zahlen

Die letzte Veröffentlichung, für SEP, erschien am 2026-10-22 und lag bei 12.5%. Das liegt über dem Konsens von 11.4%. Das ist mehr als 11.3% beim letzten Mal.

In den letzten 12 Veröffentlichungen lag der Wert zwischen 10.0% und 12.5%, im Schnitt 11.0%.

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Warum es wichtig ist

Money growth was once a direct target of central banks; today it is read as a signal of lending, spending and future inflation, and of how loose or tight the National Bank of Poland's policy really is (quantitative easing shows up here first).

So wird gerechnet

Banks report their deposits to the central bank, which adds them up by category; the figure is usually shown as the change from a year earlier.

M1 = currency + overnight deposits
M2 = M1 + short-term savings and time deposits
M3 = M2 + repos, money-market funds and short debt

Was Veränderungen bedeuten

• Fast money growth with an economy near full capacity is a warning of inflation to come.
• Shrinking money (as in 2023 in several countries) signals tight credit.
• Markets usually react little; it matters for the medium-term picture.

Eine kurze Geschichte

Milton Friedman's monetarism made money supply the centre of policy in the 1970s and early 1980s ("inflation is always and everywhere a monetary phenomenon"). Its link with inflation proved unstable and central banks moved to interest-rate targets.

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