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25.06.2021, 08:22

Eurozone: annual growth rate of broad monetary aggregate M3 decreased in May

According to the report from European Central Bank, the annual growth rate of the broad monetary aggregate M3 decreased to 8.4% in May 2021 from 9.2% in April, averaging 9.2% in the three months up to and including May. Economists had expected a 8.5% 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, decreased to 11.6% in May from 12.3% in April. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) decreased to -0.7% in May from 0.3% in April. The annual growth rate of marketable instruments (M3-M2) increased to 11.3% in May from 10.5% in April.

Annual growth rate of adjusted loans to households stood at 3.9% in May, compared with 3.8% in April

Annual growth rate of adjusted loans to non-financial corporations decreased to 1.9% in May from 3.2% in April

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