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.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals