FXstreet.com (Barcelona) - Euro Zone's M3 increased 11.5% in December, from the same month last year, somewhat below the experts forecasts of a 12.1% year on year increase, as the latest report by the European Central Bank shows.

Likewise, December's reading comes shorter than the 2.3% early rise posted in November.

The M3 three-month moving average increased 12.1% in the October - December period, form a 11.9% rise posted from September to November.

Loans to the private sector rose at a 11.1% annual rate in December, and loans to non-financial Corporations increased 14.4%, above the 14.0% rise posted on the previous month.