FXstreet.com (Barcelona) - The annual rate of M3 monetary flow growth has edged down to 11.3% in February from 11.5% in January 2008, market analysts expected the M3 to remain at the same level as in January.

According to the latest report on monetary developments published by the European Central Bank, the three-months growing average declined to 11.4 in the December-February period, from 11.7 in the November-January period.

The annual rate of M1 growth declined to 3.7% in February from 4.3% in January. The annual rate of growth of short-term deposits other than overnight deposits rose to 19.4% in February, from 17.9%, while the annual rate of growth of marketable instruments fell to 14.6 in February from 18.2 in January.