The aggregate M3 currency of the Eurozone, according to the ECB's monthly monitoring, it grew 3,9% year-on-year in October, a figure much higher than expectations (around 2,8%) and the growth recorded in September, of +2,6%.
On the other hand, still according to the European Central Bank, the picture of credit to the private sector worsens, down by 0,7%. Above all, bank loans to companies are bad, the descent of which has undergone a new one acceleration to -1,8% YoY, against -1,5% in September.
Slight improvement, however, for loans to households, which increase by 0,5%, against +0,1% in September. Above all, the growth in mortgage loans for home purchases was very clear, rising in October by 1,3% on an annual basis, against +0,7% in the previous month, again according to the ECB.
