$315bn cash circulating in Australia • Are you thinking Australia? | thinkingaustralia |
Local:
Sydney: Thu 9:38PM
Select Destination
LocationTimeTemp
Sydney9:38PM Thu18°
Melbourne9:38PM Thu13°
Brisbane8:38PM Thu23°
Perth6:38PM Thu17°
Adelaide9:08PM Thu12°
Hobart9:38PM Thu10°
Canberra9:38PM Thu10°
Darwin8:08PM Thu30°

news

Get our help FREE advice or find service providers with our ozdirectory

$315bn cash circulating in Australia

29 November 2015 by News Desk

finance_wallet2There is more than $315 billion in currency circulating in Australia, according to latest figures from the Reserve Bank of Australia.

And it’s not all been lost down the back of the sofa – there is $65 billion of hard cash in store tills and people’s wallets, along with a further $250 billion of cash deposits in banks.

There is an additional $1.8 trillion in term deposits, certificates of deposit and other deposits from building societies and credit unions into banks, a figure that is 45 times greater than three decades ago.

Ten years ago there was $784 billion of “broad money” in circulation. Today that figure is $1.83 trillion. Total money supply Australia is now 66 times greater, at almost $2.4 trillion, than it was in 1976 at $36 billion.

30 years ago housing accounted for 24% of credit in Australia. Today that figure has grown to 61%, with growth in housing credit and loans now outpacing the volume of lending to businesses.



We use cookies on Thinking Australia

This website uses cookies to ensure you get the best experience on our website. Please confirm permission to use cookies. Cookie Policy Privacy policy