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Eurozone M3 Growth Eases; Loans To Private Sector Rises At Faster Pace

Eurozone money supply expanded at a slower pace in April, while the growth in loans to the private sector accelerated, data from the European Central Bank showed on Friday.

The broad monetary aggregates M3 grew at a pace of 6.0 percent in April, slower than the 6.3 percent increase posted in March. Economists had forecast M3 to climb again by 6.3 percent.

Likewise, the narrow measure, M1 that comprises currency in circulation and overnight deposits, gained 8.2 percent annually, following an 8.8 percent increase in March.

As regards the dynamics of credit, data showed that credit to residents logged a faster growth of 6.2 percent. Meanwhile, growth in credit to general government eased to 9.3 percent from 10.1 percent.

The annual growth rate of adjusted loans to the private sector moved up 5.3 percent versus 4.6 percent in March.

Among the borrowing sectors, adjusted loans to households increased at a steady pace of 4.5 percent in April. At the same time, the annual growth rate of adjusted loans to non-financial corporations increased to 5.2 percent from 4.1 percent in March.

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