According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 stood at 12.5% in January 2021, after 12.4% in December 2020, averaging 12.0% in the three months up to January. 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, increased to 16.4% in January from 15.6% in December. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) decreased to 1.1% in January from 1.7% in December. The annual growth rate of marketable instruments (M3-M2) decreased to 18.2% in January from 25.0% in December.

Annual growth rate of adjusted loans to households stood at 3.0% in January, compared with 3.1% in December

Annual growth rate of adjusted loans to non-financial corporations stood at 7.0% in January, compared with 7.1% in December