• Eurozone: annual growth rate of the monetary aggregate M3 decreased in September

Market news

28 October 2019

Eurozone: annual growth rate of the monetary aggregate M3 decreased in September

According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 decreased to 5.5% in September 2019 from 5.8% in August, averaging 5.5% in the three months up to September. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, decreased to 7.9% in September from 8.5% in August. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 1.2% in September from 1.0% in August. The annual growth rate of marketable instruments (M3-M2) was -1.6% in September, compared with -2.7% in August.

Annual growth rate of adjusted loans to households stood at 3.4% in September, unchanged from previous month

Annual growth rate of adjusted loans to non-financial corporations decreased to 3.7% in September from 4.3% in August

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