According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 increased to 8.3% in April 2020 from 7.5% in March, averaging 7.1% in the three months up to April. Economists had expected a 7.8% increase.

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 11.9% in April from 10.4% in March. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) decreased to -0.3% in April from 0.0% in March, while the annual growth rate of marketable instruments (M3-M2) decreased to 6.7% in April from 10.1% in March.

Annual growth rate of adjusted loans to households decreased to 3.0% in April from 3.4% in March

Annual growth rate of adjusted loans to non-financial corporations increased to 6.6% in April from 5.5% in March