M3 and loan growth accelerates in July; steady liquidity backs cautious BNM
Broad money (M3) growth expanded to 3.8% YoY (Jun: 3.2%), an eight-month high
- Key drivers: Higher savings deposits (2.9%; Jun: 2.1%), and a rebound in other deposits (1.5%; Jun: -5.1%) contributed an extra 0.4 ppts (Jun: -0.3 ppts) to overall M3 growth.
- MoM (0.5%; Jun: 0.3%): Accelerated to a three-month high, adding RM12.8b, the largest in seven months.
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