European Central Bank (ECB) M3 Money Supply y/y

Country:
European Union
EUR, Euro
Sector:
Money
Low 8.3% 6.4%
7.5%
Last release Importance Actual Forecast
Previous
7.2%
8.3%
Next release Actual Forecast
Previous
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The money supply is one of the most important variables of an economy. Although there is no uniform definition, it is always classified according to availability and the next higher category includes all lower ones. The ECB defines the first category of monetary aggregates, M0, as circulating currency, i.e. coins and notes, M1 as M0 plus funds on current accounts (payable on demand), M2 as M1 plus fixed-term deposits up to 2 years and savings deposits redeemable at notice at a maximum of 3 months and finally M3 as M2 plus shares in money market funds or securities and repurchase agreements and debt securities with a maturity of up to 2 years. Of these different monetary aggregates, M3 is the most important as it is the most stable. If, for example, only the savings interest rate changes, M1 and M2 are redeployed, but M3 remains constant.

In general, a positive relationship is assumed between the growth of money supply M3 and that of inflation, economic growth and income. This means that an insufficient money supply M3 has negative influences on the other three economic variables. An increase in M3 should therefore have a positive impact on the currency, as income and inflation will also increase as a result.

Last values:

actual data

forecast

The chart of the entire available history of the "European Central Bank (ECB) M3 Money Supply y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Apr 2020
8.3%
6.4%
7.5%
Mar 2020
7.5%
5.3%
5.5%
Feb 2020
5.5%
5.0%
5.2%
Jan 2020
5.2%
5.2%
4.9%
Dec 2019
5.0%
5.5%
5.6%
Nov 2019
5.6%
5.5%
5.7%
Oct 2019
5.6%
5.4%
5.6%
Sep 2019
5.5%
6.1%
5.8%
Aug 2019
5.7%
5.7%
5.1%
Jul 2019
5.2%
4.8%
4.5%
Jun 2019
4.5%
4.7%
4.8%
May 2019
4.8%
4.2%
4.7%
Apr 2019
4.7%
4.6%
4.6%
Mar 2019
4.5%
4.5%
4.3%
Feb 2019
4.3%
3.9%
3.8%
Jan 2019
3.8%
4.3%
4.1%
Dec 2018
4.1%
3.9%
3.7%
Nov 2018
3.7%
4.0%
3.9%
Oct 2018
3.9%
3.2%
3.6%
Sep 2018
3.5%
3.4%
Aug 2018
3.5%
4.0%
Jul 2018
4.0%
4.4%
Jun 2018
4.4%
4.0%
May 2018
4.0%
3.9%
Apr 2018
3.9%
3.7%
Mar 2018
3.7%
4.2%
Feb 2018
4.2%
4.6%
Jan 2018
4.6%
4.6%
Dec 2017
4.6%
4.9%
Nov 2017
4.9%
5.0%
Oct 2017
5.0%
5.2%
Sep 2017
5.1%
5.0%
Aug 2017
5.0%
4.5%
Jul 2017
4.5%
5.0%
Jun 2017
5.0%
5.0%
May 2017
5.0%
4.9%
Apr 2017
4.9%
5.3%
Mar 2017
5.3%
4.7%
Feb 2017
4.7%
4.8%
Jan 2017
4.9%
5.0%
Dec 2016
5.0%
4.8%
Nov 2016
4.8%
4.4%
Oct 2016
4.4%
5.1%
Sep 2016
5.0%
5.1%
Aug 2016
5.1%
4.8%
Jul 2016
4.8%
5.0%
Jun 2016
5.0%
4.9%
May 2016
4.9%
4.6%
Apr 2016
4.6%
5.0%
Mar 2016
5.0%
5.0%

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