According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 increased to 4.5% in March 2019 from 4.3% in February, averaging 4.2% in the three months up to March. 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 7.4% in March from 6.6% in February. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at -0.2% in March, unchanged from the previous month. The annual growth rate of marketable instruments (M3-M2) was -4.9% in March, compared with -0.2% in February.

ECB also said that annual growth rate of adjusted loans to households stood at 3.2% in March, compared with 3.3% in February. Annual growth rate of adjusted loans to non-financial corporations decreased to 3.5% in March from 3.8% in February