Global Liquidity Watch: Weekly Update

Liquidity conditions stabilising

The chart below shows our weekly measure of Global Liquidity derived from Central Bank balance sheet data. Latest data show that global liquidity growth is weak but stabilising (-0.7% 3m ann.). In nominal terms, liquidity stands at US$166.5tr, similar to the previous week and in line with the year’s average. The year’s high of US$168.7tr was recorded in April. More is needed but the data reinforce our view that liquidity bottomed in October 2022. Back then, it hit US$158.8tr.