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Euro zone M3 money supply grows 4% in February

Published 03/26/2015, 05:08 AM
© Reuters.  Euro zone M3 money supply grows 4% in February
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Investing.com - The euro zone's M3 money supply grew less than expected in January, while private loans declined for the 34th consecutive month, 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 4.0% last month, below forecasts for a gain of 4.3%. M3 money supply in the euro zone rose 3.7% in the preceding month.

Loans to private sector declined at a pace of 0.1% annually in February, compared to expectations for a 0.1% increase, after falling 0.2% in January.

EUR/USD was trading at 1.1035 from around 1.1032 ahead of the release of the data, while EUR/GBP was at 0.7373 from 0.7375 earlier.

Meanwhile, European stock markets remained broadly lower. Germany's DAX dropped 1.6%, the EURO STOXX 50 tumbled 1.45%, France’s CAC 40 slumped 1.3%, while London’s FTSE 100 declined 1%.

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