Link Securities | The ECB reported yesterday that the monetary aggregate M3 rebounded 3.8% year-on-year in November, accelerating the pace of growth from 3.4% in the previous month and exceeding the 3.5% increase expected by FactSet consensus analysts.
The ECB also reported that bank lending to households in the Eurozone rose 0.9% year-on-year in November, accelerating from 0.8% in the previous month. November’s is the fastest pace of growth in this variable since August 2023.
Loans to companies increased by 1.0% year-on-year in November in the Eurozone, slightly down from 1.2% in October. Overall growth in credit to the private sector, which covers both households and non-financial corporations, was 1.5% year-on-year in November, down somewhat from 1.7% in October.
