Money Issuance by Banks Restrained 

Issuance of money was curbed in the past few months as banks and credit institutions reduced lending, the Economy Ministry said. 
In a press release seen on its website, the ministry said outstanding loans increased by 3.6% in the first quarter of current fiscal year (ended June 21). 
The growth is down compared to the 13.6% rise in the corresponding period last year.
This is construed by the ministry as a “significant decline in the creation of money by banks in Q1”. Decline in lending means banks supplied less money to the economy, which by extension, cut the growth in monetary base and money supply.