Forexpros – Pros – The euro zone’s M3 money supply grew less-than-expected in November, 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 2.0% in November, below expectations for a gain of 2.5%. M3 money supply in the euro zone rose 2.6% in the preceding month.
The three-month average of the annual growth rates of M3 in the period from September to November decreased to 2.5% from 2.8% in the period from August to October.
Loans to private sector rose at a pace of 1.7% annually after rising 2.7% in October. Analysts had expected private loans to rise by 2.8% in November.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.12% to reach 1.2925.
Meanwhile, European stock markets were modestly higher. The EURO STOXX 50 advanced 0.2%, France’s CAC 40 rose 0.25%, Germany’s DAX added 0.5%, while the FTSE 100 eased up 0.1%.
Forexpros
