Eurozone August M3 money supply +9.5% vs +10.1% y/y expected
Latest data released by the ECB - 25 September 2020
- Prior +10.2%; revised to +10.1%
Broad money growth stays more elevated with loans to households keeping steady at +3.0% y/y and loans to non-financial corporations seen at +7.1% y/y. This just reaffirms the narrative that liquidity is plentiful in the euro area amid the measures taken up by the ECB to address the virus crisis over the last few months.