The annual growth rate of the broad monetary aggregate M3 increased to 6.1% in August 2022 from 5.7% in July, averaging 5.8% in the three months up to August. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, stood at 6.8% in August, unchanged from the previous month. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 4.6% in August from 3.3% in July. The annual growth rate of marketable instruments (M3-M2) increased to 2.6% in August from 0.7% in ... (full story)