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- Eurozone’s M3 money supply increases 9.5 percent y-o-y in August
Eurozone’s M3 money supply increases 9.5 percent y-o-y in August
The ECB’s
report on the monetary developments in the euro area revealed that annual
growth rate of broad monetary aggregate M3 decelerated to 9.5 percent in August
from revised 10.1 percent in July (originally from 10.2 percent). Economists
had forecast M3 annual growth rate to stay at 10.2 percent in August.
Among the
components of M3, annual growth rate of narrower monetary aggregate M1,
comprising currency in circulation and overnight deposits, slowed to 13.2
percent in August from 13.5 percent in the previous month. In the meantime, the
annual growth rate of short-term deposits other than overnight deposits (M2-M1)
eased to 0.4 percent in August from 1.4 percent in the previous month., and the
annual growth rate of marketable instruments (M3-M2) weakened to 8.3 percent from
11.4 percent in July.
The report also
revealed that annual growth rate of adjusted loans to households was 3.0
percent in August unchanged from July, while annual growth rate of adjusted
loans to non-financial corporations stood at 7.1 percent, also unchanged from the
previous month.
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