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Financial News: Eurozone M3 Growth Rises At Slower Pace In

Eurozone M3 Growth Rises At Slower Pace In July

08/28/2017 - 04:27:00 (RTTNews)

(RTTNews) - Eurozone monetary aggregate rose at a slower pace in July, the European Central Bank reported Monday.

The M3 broad monetary aggregate climbed 4.5 percent annually, weaker than the 5.0 percent growth logged in June.

Economists had forecast the M3 growth to improve to 4.9 percent.

The narrower aggregate M1, which includes currency in circulation and overnight deposits, decreased to 9.1 percent in July from 9.7 percent in June.

Annual growth rate of credit to the private sector eased to 3.0 percent in July from 3.1 percent in June. Meanwhile, adjusted loans to the private sector increased to 2.6 percent from 2.5 percent last month.

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