Euro area money supply growth slows in March
Sharecast
Published May 02, 2023 13:03
Euro area money supply growth slows in March
Sharecast - According to the European Central Bank, the annual rate of growth in M3 money supply slowed from the 2.9% pace observed in February to 2.5%.
Economists had penciled-in growth of 2.4%.
Meanwhile, so-called 'narrow' money growth, which comprises currency in circulation and overnight deposits, shrank at a clip of 4.2% in March, down from 2.7% in February.
On the asset side of the equation, the rate of increase in credits to the private sector slowed from 3.3% to 2.8%.
Credit to general government slowed from 0.7% to 0.0%, those to households from 3.2% to 2.9% and those to non-financial corporations from 5.7% to 5.2%.
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