Eurozone money supply growth held steady in September, figures from the European Central Bank showed Tuesday.
M3, the broad measure of money supply, rose a seasonally adjusted 4.9 percent year-over-year in September, the same rate of increase as in the previous month, revised from a 4.8 percent growth. In July, money supply had risen 5.3 percent.
The annual growth averaged 5 percent in the three months to September.
The narrower aggregate M1, which includes currency in circulation and overnight deposits, increased at a faster pace of 11.7 percent in September, following a 11.5 percent climb in August.
Total credit to euro area residents grew 2.1 percent annually in September, slight slower than previous month’s 2.2 percent increase. Meanwhile, the annual growth rate of credit to general government rose to 7.2 percent in September from 6.3 percent in August.
At the same time, credit to the private sector fell 0.4 percent in September after a 0.8 percent decline in the prior month, while the growth rate of loans to households climbed to 1.1 percent from 1.0 percent in August.
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