AUSTRALIA'S M-3 MONEY SUPPLY RISE 1.5 PCT IN MARCH
Australia's M-3 money supply growth was
1.5 pct in March and 11.3 pct in the 12 months to March, the
Reserve Bank said.
    This compared with a revised rise of 0.5 pct in February
and 11.1 pct in the year to end-February.
    The Reserve Bank said the M-3 data for March was affected
by the start of the operations of <National Mutual Royal
Savings Bank Ltd>, which has resulted in the transfer of
deposits (equivalent to around 1.5 pct of m-3) from the United
Permanent Building Society to National Mutual Royal Savings
Bank Ltd.
    The Reserve Bank said M-3 money supply in March was 110.77
billion Australian dlrs compared with a revised 109.11 billion
in February and 99.48 billion in March, 1986.
    M-3 is deposits of the private sector held by trading and
savings banks plus holdings of notes and coins.
 REUTER
