Russia's broad monetary base down 0.8% in Dec, grows 5.5% in 2024 - Central Bank

MOSCOW. Jan 14 (Interfax) - Russia's broad monetary base decreased by 225.4 billion rubles or 0.8% in December 2024 to 27.958 trillion rubles, the Central Bank of Russia said.

The monetary base rose by 1.452 trillion rubles or 5.5% in 2024, from 26.507 trillion rubles in 2023 after growing 8.5% that year and 20.1% in 2022.

Cash in circulation rose by 665.2 billion rubles or 3.7% during December to 18.511 trillion rubles.

Cash rose 190.5 billion rubles or 1.0% in 2024 from 18.321 trillion at the start of the year, after growing 12.1% in 2023 and 16.2% in 2022.

The share of cash in the monetary base grew in December from 63.3% to 66.2% but fell from 69.1% over the year to January 1, 2024.

Correspondent accounts held by banks with the Central Bank fell 423.6 billion rubles or 8.3% in December to stand at 4.709 trillion rubles. Bank deposits with the Central Bank rose by 462.4 billion rubles or 9.8% in December to 4.462 trillion rubles.

The broad monetary base includes cash issued into circulation by the Central Bank, taking into account the balances in the cash holdings of credit institutions, balances in required reserve accounts deposited by credit institutions with the Central Bank, funds in credit institutions' correspondent accounts, bank deposits placed with the CBR and investments by credit institutions in CBR bonds and other liabilities for operations with credit institutions in the national currency.

The dynamics of the broad monetary base characterize changes in the money supply formulated by the authorities responsible for monetary policy.