Broad money M3 in Poland

Banco Nacional de Polonia · Monthly · Importance 40

11.295% (Jul-26) YOY · % · Mensual · CSV

About this indicator

Source	Narodowy Bank Polski (NBP)
Frequency	Monthly
Release	Hacia mediados del mes siguiente al periodo de referencia.
What it is	The M3 monetary aggregate is Poland's broad measure of money: currency in circulation, sight and time deposits and other liquid instruments held by the non-financial sector. Published by the National Bank of Poland (NBP), its year-on-year change reflects monetary and credit conditions.
How it's calculated	A year-on-year (12-month) change in the M3 aggregate published monthly by the NBP from raw data, without adjustment for transactions or reclassifications.
Market implications	Fast M3 growth can foreshadow stronger spending and inflation, while a slowdown points to tighter monetary and credit conditions. It is one of the variables watched by the NBP's Monetary Policy Council.
Limitations	The link between M3 and inflation is unstable and time-varying, so the reading calls for caution. The aggregate is revised and depends on methodological reclassifications and shifts in the composition of liquidity.