FXstreet.com (Barcelona) - Euro Zone's M3 money supply has grown in March at a somewhat lower yearly rate than in February or January, according to figures released by the European Central Bank.
In March, the M3 money supply has grown 10.3% from the same month last year, a somewhat lower pace than the 11.3% posted in February or January's 11.6%. The three-month growing average has declined to 11.1% in the January-March period, from the 11.5% increase posted in the December - February quarter.
Down to the M3 components, the M1 has declined to 2.9% in March 2008 from 3.7% in February. The annual growing rate of short-term deposits, other than overnight deposits, has dropped to 18.4% in March, from 19.4% in Feb, and the marketable instruments yearly growth has decreased to 12.8% in March from 15% in February.