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Oceania   M3 climbed 7.3 percent in New Zealand

New Zealand money supply growth eases in May

New Zealand's moneyNew Zealand's money supply growth eased in May, after remaining stable in the previous month, figures from the Reserve Bank of New Zealand showed.

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The broad money supply, or M3, climbed 7.3 percent year-over-year in May, slower than previous month's 7.8 percent rise.

In the corresponding month last year, money supply had grown 8.1 percent.

The intermediate money supply, or M2, also increased at a slower pace of 11.4 percent annually in May, after a 14.5 percent hike in April.

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