Eurozone M3 Money Supply increases 4.6% on year: ECB

Bank lending to the private sector in the eurozone increased slightly in March following nearly three years of declines, according to a report on Wednesday from the European Central Bank, suggesting the region’s lengthy credit squeeze is coming to an end amid signs of economic recovery.

Private-sector lending was up 0.1% on an annual basis, the ECB said in its monthly report, compared to a -0.1% reading in February.

The broadest measure of money supply, M3, rose 4.6% on an annual basis last month, the ECB said, up from February’s 4% rise.

Source: MarketWatch