Investing.com - The euro zone's M3 money supply grew more-than-expected in December, while private loans declined for the sixth consecutive month, official data showed on Wednesday.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.5% in January, above expectations for a 3.2% increase.
M3 money supply in the euro zone rose 3.4% in the preceding month.
Loans to private sector declined at a pace of 0.9% annually last month, compared to expectations for a 0.6% drop, after falling 0.7% in December.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3082.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.25%, France’s CAC 40 eased up 0.3%, Germany's DAX advanced 0.15%, while London’s FTSE 100 tacked on 0.3%.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.5% in January, above expectations for a 3.2% increase.
M3 money supply in the euro zone rose 3.4% in the preceding month.
Loans to private sector declined at a pace of 0.9% annually last month, compared to expectations for a 0.6% drop, after falling 0.7% in December.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3082.
Meanwhile, European stock markets held on to gains. The EURO STOXX 50 rose 0.25%, France’s CAC 40 eased up 0.3%, Germany's DAX advanced 0.15%, while London’s FTSE 100 tacked on 0.3%.