AUSTRALIA'S M-3 MONEY SUPPLY RISE 1.5 PCT IN MARCH Australia's M-3 money supply growth was 1.5 pct in March and 11.3 pct in the 12 months to March, the Reserve Bank said. This compared with a revised rise of 0.5 pct in February and 11.1 pct in the year to end-February. The Reserve Bank said the M-3 data for March was affected by the start of the operations of <National Mutual Royal Savings Bank Ltd>, which has resulted in the transfer of deposits (equivalent to around 1.5 pct of m-3) from the United Permanent Building Society to National Mutual Royal Savings Bank Ltd. The Reserve Bank said M-3 money supply in March was 110.77 billion Australian dlrs compared with a revised 109.11 billion in February and 99.48 billion in March, 1986. M-3 is deposits of the private sector held by trading and savings banks plus holdings of notes and coins.