Eurozone's broad monetary aggregate M3 rose 2.9 percent year-on-year in May, the European Central Bank said Friday. The increase follows April's 2.5 percent rise and well above the consensus forecast of 2.3 percent.
The three-month average of the annual growth rates of M3 during March to May came in at 2.8 percent, compared with 2.7 percent in the period for February to April.
Meanwhile, loans to the private sector dipped 0.1 percent annually, partially offsetting the 0.2 percent increase in April.
The annual growth rate of loans to households decreased to 0.3 percent from 0.5 percent. Likewise, the rate of lending for house purchase, the most important component of household loans, decreased to 0.7 percent from 1 percent.
by RTT Staff Writer
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