Eurozone money supply grew at a slower pace and the credit to the private sector logged a steady growth in February, data from the European Central Bank showed on Thursday.

The monetary aggregate M3 expanded 12.3 percent annually, slower than the 12.5 percent rise in January. The rate was forecast to remain unchanged at 12.5 percent.
In three months to February, M3 growth averaged 12.4 percent.

The narrower aggregate M1, which comprises currency in circulation and overnight deposits, grew 16.4 percent versus 16.5 percent in January.

Further, data showed that credit to the private sector grew at a steady pace of 5.1 percent in February. Similarly, adjusted loans to the private sector expanded 4.5 percent, the same rate as seen in January.

Among the borrowing sectors, the annual growth rate of adjusted loans to households stood at 3.0 percent in February, unchanged from the previous month. Meanwhile, the annual growth rate of adjusted loans to non-financial corporations improved to 7.1 percent from 6.9 percent in January.

The material has been provided by InstaForex Company –

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