Eurozone Feb M3 Growth Remains Stable At 5%
Eurozone money supply growth held steady in February and private sector credit expanded at a faster pace, the European Central Bank reported Tuesday.
The broad monetary aggregate M3 climbed 5 percent year-on-year in February, the same rate as seen in January and in line with expectations. Consequently, growth averaged 4.9 percent in three months to February.
The annual growth rate of credit to euro area residents accelerated to 3.2 percent from 2.6 percent in January. Credit to general government increased 10.1 percent, faster than January's 8.7 percent increase.
Similarly, private sector credit climbed 1.2 percent after rising 0.9 percent in January.
Among the components of credit to the private sector, loans to households gained 1.6 percent and that to non-financial corporations moved up 0.9 percent.
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