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- Eurozone: growth rate of the broad monetary aggregate M3 accelerated in July
Eurozone: growth rate of the broad monetary aggregate M3 accelerated in July
According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 increased to 5.2% in July 2019 from 4.5% in June, averaging 4.8% in the three months up to July. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, increased to 7.8% in July from 7.2% in June. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 0.1% in July from -0.1% in June. The annual growth rate of marketable instruments (M3-M2) was -1.2% in July, compared with -4.7% in June.
Annual growth rate of adjusted loans to households stood at 3.4% in July, compared with 3.3% in June
Annual growth rate of adjusted loans to non-financial corporations stood at 3.9% in July, unchanged from previous month
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