⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Eurozone Corporate Lending Grows at the Fastest Pace This Year in April

According to recent data released by the ECB, corporate lending growth rose to 3.9% in April, up from 3.6% in March. However, this rapid growth rate was not matched in household lending growth, which showed a slight increase to 3.4% in April from 3.3% in March.

To combat slowdown of economic growth after exports and manufacturing data came in weaker than expected recently, the ECB has announced stimulus measures to boost bank lending in a bid to turn the economy around.

The ECB will offer lenders a new line of loans at ultra-low interest rates at attract investment from businesses as it attempts to offset slowdown in the economy.

Meanwhile, the M3 measure of money supply grew at a faster pace than expected at 4.7% vs. 4.6% previously and 4.4% expected.

EUR/USD remains mostly unchanged on the release of this news, continuing to trade at around 1.11 at the time of writing.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles