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InstaForex - Official partner of Dragon Racing

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InstaForex - Official partner of Dragon Racing

2018.07.2505:04:00UTC+00Eurozone M3 Growth Improves; Loans To Private Sector Rise At Slower Pace

Eurozone broad money supply climbed at a faster pace in June, while annual growth in private sector credit slowed from May, the European Central Bank reported Wednesday.

Broad monetary aggregate M3 grew 4.4 percent year-on-year in June, following May's 4 percent increase. The rate was expected to remain unchanged at 4 percent.

Meanwhile, the narrow measure M1 rose 7.4 percent, slightly weaker than the 7.5 percent rise posted a month ago.

Data showed that credit to private sector rose at a slower pace of 2.8 percent after rising 3.1 percent. However, the annual rate of adjusted loans to the private sector improved to 3.5 percent from 3.3 percent.

Annual growth in adjusted loans to households held steady at 2.9 percent in June. At the same time, loans to non-financial corporations climbed 4.1 percent after gaining 3.7 percent in May.

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