Market Updates: European M3 Money Supply Rises by 4.5% vs. 4.2%

Monetary developments in the Euro Area: March 2019

• The annual growth rate of broad monetary aggregate M3 grew to 4.5% in March 2019 from 4.3% in February.
• The annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, rose to 7.4% in March from 6.6% in February.
• The annual growth rate of adjusted loans to households held at 3.2% in March, compared with 3.3% in February.
• The annual growth rate of adjusted loans to non-financial corporations contracted to 3.5% in March from 3.8% in February.