The European Central Bank (ECB) reported that the annual growth rate of the broad monetary aggregate M3 came in at 5 percent in June after 4.9 percent in May (revised from initially reported 5 percent). Meanwhile, the annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits as well, rose to 9.7 percent in June, up from 9.3 percent in May. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was more negative at -3 percent in the reviewed period compared to -2.8 percent in the prior month. The annual growth rate of marketable instruments (M3-M2) fell to -0.8 percent, from 1.2 percent.

Within M3, the annual growth rate of deposits placed by households declined to 4.9 percent in June, from 5.1 percent in May, while the annual growth rate of deposits placed by non-financial corporations rose to 8.4 percent from 7.5%. Elsewhere, the annual growth rate of deposits placed by non-monetary financial corporations grew to 3.7 percent from 2.7 percent.