The annual growth rate of broad monetary aggregate M3 in the euro area stood at 3.4% in July 2026, down from 3.3% in June. Narrower aggregate M1 growth slowed to 3.1% from 3.5%, while short-term deposits (M2-M1) rose to 3.8% and marketable instruments (M3-M2) fell to 4.2%. Adjusted loans to households grew 3.1%, and loans to non-financial corporations increased to 4.4%. Household deposits grew 2.6%, corporate deposits rose 5.3%, and investment fund deposits increased to 1.8%. M3 counterparts showed claims on the private sector contributing 3.5% growth, net external assets at 2.2%, and longer-term liabilities down at -1.7%. Total claims on euro area residents grew 2.4%, with private sector loans rising to 4.1%.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
Made by AI. If you spot anything of concern write us at contact@cybach.com. We’ll promptly correct irregularities.