2018.03.2705:47:00UTC+00Eurozone M3 Growth Slows In February

Eurozone money supply grew at a slower pace in February, figures from the European Central Bank showed Tuesday.

The broad monetary aggregate M3 climbed 4.2 percent year-on-year in February, weaker than the 4.5 percent rise seen in January. The expected growth was 4.6 percent.

The narrow measure, M1, which includes currency in circulation and overnight deposits, rose 8.4 percent after rising 8.8 percent in the previous month.

Data showed that annual growth in credit to the private sector slowed to 2.8 percent from 3 percent in January. The adjusted loans to the private sector gained 3 percent.

Loans to household logged a steady increase of 2.9 percent and that to non-financial corporations climbed 3.1 percent versus 3.4 percent in January.