FRANKFURT, Jan 28 (Reuters) - Money supply growth in the
euro zone slowed in December, the European Central Bank said on
The ECB gave the following percentage changes in growth,
DEC NOV Prior
M3 annual growth rate 3.3 3.8 (3.8)
M3 3-month moving avg 12-mo growth 3.7 3.4 (3.4)
Annual total credit growth 0.4 0.3 (0.2)
Annual credit growth private sector -0.8 -1.6 (-1.6)
-- of which loans -0.7 -0.8 (-0.8)
Breakdown of Loans, pct annual growth rate:
Loans to households 0.7 0.8 (0.7)
-- consumer credit -2.9 -2.9 (-3.1)
-- for home purchases 1.3 1.2 (1.2)
Loans to non-financial corporations -1.3 -1.5 (-1.8)
Monthly loan flow to firms (bln eur) -22 -7 (-4)
A Reuters poll showed 27 economists on average expected
12-month M3 growth of 3.9 percent, with forecasts ranging from
3.1 percent to 4.0 percent. For private loan growth, economists
on average expected a contraction of 0.7 percent, with a
forecast range of -0.9 percent to -0.5 percent.
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NOTES: The data are adjusted to exclude holdings of money
market fund shares or units by residents outside the euro area
and non-resident holdings of money market paper and debt
securities with an initial maturity of up to two years.
Previously reported data from the prior month are in
The ECB has set a reference rate of 4.5 percent for the
three-month moving average of annual money supply growth, above
which the bank sees dangers to medium-term price stability.
(Reporting by Eva Kuehnen)
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