Emkaynomics Fortnightly round up of key banking and economic indicators

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Emkaynomics

Fortnightly round up of key banking and economic indicators

n     The growth in non food credit during the fortnight ended May 20, 2011 came in at 22.1% levels, lower than 22.8% yoy in the previous fortnight. Deposit growth remained steady at 17.4% yoy.

n     For the week ended May 20, 2011, CD / TTM CD moderated marginally to 74.3% / 91.4% levels respectively.

n     Growth in money supply was steady at 17.3% yoy levels; reserve money growth, however improved to 17.5% yoy levels. The money multiplier was stable at 4.9x for the week ended May 20, 2011.

n     Liquidity continues to remain in deficit mode. The net shortage of liquidity in the system for the week ended May 20, 2011 stood at Rs581bn, significantly higher as compared to previous fortnight.

n     Call money rates have hovered at 7%+ levels for past few weeks.  Call money rate as on June 3, 2011 was at 7.24%, resulting in negligible spread with repo rate.

n     The spread between the long and short end OIS has eased further to single digit (5bps) as on June 3, 2011.