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Financial News: Eurozone Money Supply Growth Slows In June; Private

Eurozone Money Supply Growth Slows In June; Private Sector Lending Rises Faster

07/24/2019 - 04:40:00 (RTTNews)

(RTTNews) - Eurozone's broad money supply growth slowed more-than-expected in June, while private sector lending rose unexpectedly at a faster pace, data from the European Central Bank showed on Wednesday.

M3, a broad money aggregate, rose 4.5 percent year-on-year following a 4.8 percent increase in May. Economists had expected 4.6 percent growth.

Loans to the private sector increased 3.5 percent annually in June after a 3.3 percent rise in May. Economists had expected 3.2 percent growth.

Among the M3 components, the annual growth in the narrower aggregate M1 remained unchanged at 7.2 percent.

In the borrowing sectors, the annual growth rate in adjusted loans to households was 3.3 percent and that of loans to non-financial corporations was 3.8 percent. Both were unchanged from the previous month.

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