According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 increased to 10.4% in September 2020 from 9.5% in August, averaging 10.0% in the three months up to September. Economists had expected a 9.6% 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 13.8% in September from 13.2% in August. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 1.4% in September from 0.4% in August. The annual growth rate of marketable instruments (M3-M2) increased to 12.5% in September from 8.2% in August.

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

Annual growth rate of adjusted loans to non-financial corporations stood at 7.1% in September, unchanged from previous month