New Zealand's M3 money supply grew 8.7% year-on-year in February, at a faster pace compared to a 6.9% rise in January, a report by the Reserve Bank said. A year earlier, in February, the money supply was up 6%.

In February, the M3 money supply totaled NZ$215,954 million, up from NZ$214,419 million in January. A year earlier, the money supply stood at NZ$198,643 million.

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