2017.03.2704:30:00UTC+00Eurozone Money Supply Growth Eases Slightly

Eurozone money supply growth eased for the second straight month in February, though marginally, figures from the European Central Bank showed Monday.

The broad money measure, M3, rose 4.7 percent year-over-year in February, slower than the 4.8 percent climb in January, which was revised down from 4.9 percent.

Economists had expected a 4.9 percent growth for the month.

Within M3, the annual growth rate of deposits placed by households stood at 5.4 percent in February, down from 5.5 percent in January. At the same time, deposits placed by non-monetary financial corporations registered a decline of 2.0 percent.

The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, remained stable at 8.4 percent in February.

Data also showed that the the annual growth rate of total credit to euro area residents decreased to 4.3 percent in February from 4.6 percent in the previous month. The yearly growth rate of credit to general government moderated to 9.8 from 10.5 percent.