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Eurozone M3 Growth Accelerates In March

4/30/2012 4:12 AM ET

Eurozone broad monetary aggregate M3 grew at a faster pace in March, the European Central Bank said Monday.

M3, increased 3.2 percent year-on-year in March, faster than the 2.8 percent growth logged in February. Economists were forecasting the rate to remain stable at 2.8 percent.

The three-month average of the annual growth rates of M3 during January to March rose to 2.8 percent from 2.3 percent in December to February period.

At the same time, loans to the private sector climbed 0.6 percent in March from a year ago, following a 0.8 percent rise in the previous month. Likewise, the annual growth rate of loans to households decreased to 0.6 percent from 1.2 percent in February.

by RTT Staff Writer

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