Banca March | In the Eurozone, the money supply has accelerated to its highest level since November 2022: the M3 registered an increase of 4% year-on-year, two tenths above the previous month. This improvement shows greater dynamism in credit, with loans to non-financial companies growing by 2.2%, two tenths more than the previous month, and loans to households also accelerating to a year-on-year increase of 1.5% (against 1.3% previously). These figures point to a reactivation of private credit in the region and that the ECB’s rate cuts are translating into an acceleration of lending, which would support an economic reactivation.
Eurozone money supply up 4% year-on-year, 2/10 pp above previous month, highest level since November 2022
