The National Bank of Poland released monetary statistics showing that the M3 money supply increased by PLN 21.8bn in November 2025, taking the aggregate to PLN 2,692.8bn at end-November versus end-October. The rise was mainly driven by higher deposits and other claims of households and non-financial corporations. Household-sector deposits and other claims included in M3 increased by PLN 8.5bn (0.6%) to PLN 1,410.6bn, while non-financial corporations’ deposits and other claims rose by PLN 4.2bn (0.8%) to PLN 567.1bn. On the counterparts side, net debt of central government entities increased by PLN 14.5bn (2.5%) to PLN 583.7bn; debt of other financial institutions by PLN 10.2bn (5.2%) to PLN 207.4bn; non-financial corporate debt by PLN 10.2bn (2.2%) to PLN 469.3bn; and household debt by PLN 3.5bn (0.4%) to PLN 828.3bn.
Central Bank of Poland 2025-12-22
National Bank of Poland reports PLN 21.8bn rise in M3 in November 2025 led by higher household and corporate deposits
The National Bank of Poland reported a PLN 21.8bn increase in the M3 money supply for November 2025, reaching PLN 2,692.8bn. This growth was primarily due to higher deposits and claims from households and non-financial corporations. Additionally, there were notable increases in the net debt of central government entities, other financial institutions, non-financial corporations, and households.