Decreasing growth rate for household loans
The annual growth rate for MFIs household lending was 8.6 percent in January. This is lower than in December when the growth rate was 9.0 percent on an annual basis. The growth rate for household loans has been on a downward trend since the start of 2006 when it was over 13 percent.
Households had total loans from MFIs valued at SEK 2 145 billion, which is an increase of SEK 5 billion compared to December. The increase from November to December was SEK 19 billion. However, it should be noted that there is a seasonal variation that applies to household loans that has higher new lending in December and lower new lending in January. Lending for housing purposes amounted to a total of SEK 1 404 billion by the end of January, an increase by SEK 8 billion compared to December. Loans for consumption amounted to SEK 144 billion and have decreased by SEK 1 billion during January.
The annual growth rate for MFI lending to non-financial corporations decreased from 10.9 percent in December to 10.6 percent in January. Total lending to non-financial corporations amounted to SEK 1 774 billion then.
Growth rate of the money supply decreased
The narrow monetary aggregate M1 in January had an annual growth rate of 5.0 percent, which is somewhat lower than in December when the growth rate was 5.4 percent. M1 amounted to a total of SEK 1 486 billion in January.
The broad monetary aggregate M3 also had a lower growth rate in January than in December. The growth rate was 5.7 percent in January, which is a reduction from 8.2 percent in December. M3 amounted to SEK 2 225 billion in January which is SEK 38 billion lower than in December.