Forexpros – The euro zone’s M3 money supply grew unexpectedly in June, while private loans fell in line with expectations, official data showed on Thursday.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.2% in June, above expectations for a 2.8% increase.
M3 money supply in the euro zone rose 3.1% in the preceding month, whose figure was revised up from 2.9%.
Loans to private sector fell at a pace of 0.2% annually, in line with expectations after declining 0.1% in May.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.11% to trade at 1.2142.
Meanwhile, European stock markets were lower. The EURO STOXX 50 fell 0.1%, France’s CAC 40 was flat, Germany’s DAX slumped 0.4%, while London’s FTSE 100 declined 0.1%.
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