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Eurozone M3 Growth Accelerates In February

Eurozone money supply growth accelerated unexpectedly in February, data from the European Central Bank showed Wednesday.

The broad monetary aggregate M3 increased 2.8 percent year-on-year, faster than the 2.5 percent rise seen in January. Economists were expecting the rate to slow to 2.4 percent.

The three-month average of the annual growth rates of M3 in the period from December to February increased to 2.3 percent, compared to 2 percent increase during three months ended January.

At the same time, credit to private sector rose at a slower pace of 0.7 percent, following last month's 1.1 percent growth. The annual growth rate of loans to households came in at 1.2 percent in February, compared with 1.3 percent in January.

by RTT Staff Writer

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