RTTNews - Eurozone M3 money supply grew 3.7% year-on-year in May, much slower than the 4.9% growth logged in April, the European Central Bank said Tuesday.
The three-month average of the annual growth rates of M3 over the March to May period eased to 4.5% from 5.2% in the period February to April.
According to ECB, M1, the main components of M3 grew at a slower pace of 7.9%, while annual growth of short-term deposits other than overnight deposits eased to 2%. Annual change of marketable instruments decreased to minus 3.5% in May.
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