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Eurozone broad money supply growth rises in April; household lending picks up

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Eurozone broad money supply growth rises in April; household lending picks up

The annual growth rate of broad money supply in the eurozone, or M3, accelerated to 4.7% in April from an upwardly revised 4.6% in March, data from the European Central Bank showed.

M3 money supply growth averaged 4.5% in the three months to April.

The narrower aggregate M1, which comprises currency in circulation and overnight deposits, came in at 7.4% in April, down from 7.5% in March.

The annual growth rate of adjusted loans to households rose to 3.4% in April from 3.3% in March. Adjusted loans to nonfinancial corporations grew to 3.9% in April, compared with 3.6% year-over-year growth in the previous month.