growth in The money supply in the Euro zone has also accelerated in June, but was not quite as strong as analysts expected. The broad monetary aggregate M3 increased compared to the same month last year to 9.2 percent, as the European announced Central Bank (ECB) on Monday. This is the highest Rate since the summer of 2008. In the previous month, the growth had still amounted to 8.9 percent. Analysts had expected an even stronger increase of 9.3 percent.
editor in the economy.F. A. Z.
This amount of money includes the of non-banks held in cash, plus in the case of banks and savings banks held demand deposits, time deposits up to two years maturity, savings deposits with legal period of notice of up to three months, as well as selected short-term securities such as money market funds and money market instruments. The growth of the M3 money supply has accelerated since the beginning of the year steadily, with the growth rate in January, 5.2 percent had been.
The growth in the narrower M1 money supply that includes cash and sight deposits of non-banks, accelerated also. There, the growth rate rose to 12.6 percent, up from 12.5 percent in may. The banks ' lending to households grew in June as in the previous month by 3.0 percent. The growth of lending to enterprises weakened, however, something. The Rate fell to 7.1 percent, down from 7.3 percent in may.Updated Date: 27 July 2020, 11:20