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New Zealand's M3 Money Supply Growth Slows

New Zealand's money supply growth decelerated marginally in February, the latest figures from the Reserve Bank of New Zealand showed Friday.

The M3 money supply rose 5.2 percent year-on-year in February, slower than 5.4 percent rise in January. The latest rate of increase was the weakest in five months.

The intermediate or M2 money supply rose 11.1 percent annually last month, compared with 13.5 percent increase recorded in January. M1 money supply growth also slowed, to 7.9 percent from 8.5 percent in the previous month.

The amount of notes and coin held by the public totaled NZ$3.8 billion, which is 5.6 percent higher than a year earlier.

by RTT Staff Writer

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