Euro multiplication has accelerated. Analysts surprised by the money supply

As much as 6.1 percent. M3 money supply increased (cash in circulation and at bank vaults, deposits up to 2 years, debt securities up to 2 years) in the euro area. It means that EUR 146 billion, which had not been there before, came to the market.

Out of this amount, as much as EUR 97 billion is money in the vaults of banks on overnight deposits, and EUR 23 billion has appeared on deposits for up to two years inclusive. This money was mainly used to increase lending to enterprises (EUR 69 billion, +8.7% y / y) and loans for home purchases (EUR 18 billion, +5.2% y / y).

The increase in money supply in the euro area and what it translated into


For analysts, these the data is a big surprise. In the previous months it was visible that the pace of growth was declining and this trend was expected to continue. The average forecast was an increase of 5.4 percent. year on year, and here it is buch, as much as 6.1 percent. For comparison, the Polish money supply increased by 7.4 percent. yoy in august.

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