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Eurozone: Corporate credit growth continued to accelerate in May-ECB


Euro zone: Corporate credit growth continued to accelerate in May-ECB |  Photo credit: Shutterstock

Euro zone: Corporate credit growth continued to accelerate in May-ECB | Photo credit: Shutterstock

June 29 (Reuters) – Eurozone corporate loan growth continued to rise in May, European Central Bank (ECB) data showed on Wednesday, suggesting a possible hoarding of funds by companies ahead of the hike ECB interest rates later in the year.

Business loans rose 5.8% last month, compared to 5.2% in April, registering the highest growth rate since the start of 2021.

The growth rate of loans to households meanwhile remained at 4.6%, its highest level since the end of 2008.

The annual growth rate of M3 money supply, however, slowed to 5.6%, the weakest pace in two years, before the increase in bond purchases by the ECB in response to the pandemic. (Report Balazs Koranyi; French version Dagmarah Mackos, editing by Kate Entringer)





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