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Eurozone Money Supply Growth Steady; Business Lending Rises

Eurozone money supply growth held steady in October, while lending to non-financial businesses in the euro area increased, figures from the European Central Bank showed on Thursday.

M3, a measure of broad money, grew 5.6 percent annually, the same as the September rate that was revised.

Economists had expected the rate to remain unchanged at September's original rate of 5.5 percent.

The narrow measure M1 grew 8.4 percent annually after rising 7.9 percent in the previous month.

Lending to businesses grew 3.8 percent annually after a 3.6 percent gain in September. Loans to households grew 3.5 percent following a 3.4 percent rise in the previous month.

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