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Financial News: Eurozone M3 Growth Eases In December

Eurozone M3 Growth Eases In December

01/26/2018 - 05:23:00 (RTTNews)

(RTTNews) - Eurozone monetary aggregate grew at a slower pace in December, the European Central Bank said Friday.

The broad money supply M3 climbed 4.6 percent year-on-year in December, slower than the 4.9 percent increase seen in November. M3 was forecast to grow again by 4.9 percent.

The M3 growth averaged 4.8 percent in three months to December.

The narrow measure M1, which includes currency in circulation and overnight deposits, grew 8.6 percent versus 9.1 percent in November.

Data showed that credit to private sector expanded 2.8 percent, the same rate as seen in November.

Loans to households logged a steady growth of 2.8 percent, while growth in loans to non-financial corporations slowed to 2.9 percent from 3.1 percent.

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