Link Securities | According to the ECB, the M3 monetary aggregate rose 3.0% year-on-year in November in the Eurozone, accelerating from 2.8% in October and exceeding the consensus forecast of FactSet analysts, who had expected a 2.7% increase for the month.
In November, credit granted to households by euro area institutions rose by 2.9% year-on-year (the highest rate since March 2023) from 2.8% in October. Meanwhile, loans to non-financial corporations in the eurozone rose in November at an annual rate of 3.1% (the highest rate since June 2023), also exceeding the 2.9% recorded in October. Overall, the general growth in credit to the private sector, which covers both households and non-financial companies, accelerated from 3.0% in October to 3.4% in November.
