European Central Bank data released on 29 June 2026 show that the annual growth rate of the broad monetary aggregate M3 rose to 3.2% in May, up from 2.7% in April. The narrower M1 aggregate, consisting of currency in circulation and overnight deposits, increased to 4.0% from 3.8%. Short‑term deposits excluding overnight deposits (M2‑M1) grew 1.4% compared with 0.9% in April, while marketable instruments (M3‑M2) rose to 3.2% from 0.9% in April. Adjusted loans to households grew 3.1% and to non‑financial corporations 4.0% in May, versus 3.0% and 3.4% respectively in April. Total claims on euro area residents rose 2.4% to 2.0% in May.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
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