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- Eurozone’s M3 money supply increases 10.5 percent y-o-y in October
Eurozone’s M3 money supply increases 10.5 percent y-o-y in October
The ECB’s
report on the monetary developments in the euro area revealed that the annual
growth rate of broad monetary aggregate M3 accelerated to 10.5 percent in October
from an unrevised 10.4 percent in September. Economists had forecast M3 annual growth rate to
stay at 10.4 percent in October.
Among the
components of M3, the annual growth rate of narrower monetary aggregate M1,
comprising currency in circulation and overnight deposits, stood at 13.8
percent in October, unchanged from the previous month. The annual growth rate
of short-term deposits other than overnight deposits (M2-M1) was at 1.4 percent
in October, also unchanged from the previous month. In the meantime, the annual
growth rate of marketable instruments (M3-M2) accelerated to 14.0 percent from
11.9 percent in September.
The report also
revealed that the annual growth rate of adjusted loans to households was 3.1
percent in October unchanged from September, while the annual growth rate of
adjusted loans to non-financial corporations stood at 6.8 percent, down from
7.1 percent in the previous month.
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