Annual Growth Rate of M3 in Euro Area Stood at 3.5% in August 2026: ECB
Umer Jamshaid
Published September 25, 2026 | 05:00 PM
BRUSSELS (UrduPoint / Pakistan Point News / WAM - 25th Sep, 2026) The annual growth rate of the broad monetary aggregate M3 in the euro area stood at 3.5% in August 2026, after 3.4% in July, averaging 3.4% in the three months up to August, according to data released by the European Central Bank (ECB).
The components of M3 showed the following developments:
- The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, decreased to 2.9% in August from 3.1% in July.
- The annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 4.1% in August from 3.7% in July.
- The annual growth rate of marketable instruments (M3-M2) increased to 7.1% in August from 4.2% in July.
- The annual growth rate of adjusted loans to the private sector (i.e. adjusted for loan transfers and notional cash pooling) increased to 4.3% in August from 4.1% in July.
Within the non-financial private sector:
- The annual growth rate of adjusted loans to households stood at 3.1% in August, unchanged from the previous month,
- while the annual growth rate of adjusted loans to non-financial corporations decreased to 4.2% in August from 4.4% in July.