Eurozone Oct. M3 Money Supply Growth Slows More Than Expected

Sponsored Links

Thursday, the European Central Bank said Eurozone M3 money supply grew 0.3% year-on-year in October, much slower than the 1.8% increase seen in September. The expected growth rate was 0.8%. The three-month average of the annual growth rates of M3 over the period August to October decreased to 1.6%, from 2.5% recorded during July to September.

Regarding the main components of M3, the annual growth rate of M1 eased to 11.8% in October from 12.8% in September. The short-term deposits other than overnight deposits slipped 7.2% in October, larger than the 5.3% decline in the previous month. At the same time, marketable instruments decreased 11.6% in October versus 8.9% fall in September.

Thursday, the European Central Bank said Eurozone M3 money supply grew 0.3% year-on-year in October, much slower than the 1.8% increase seen in September. (Market News Provided by RTTNews)