ECB: Euro Area Monetary Growth Reaches 3.3% in June

The European Central Bank (ECB) released its monetary developments report for June 2026. The annual growth rate of broad monetary aggregate M3 increased to 3.3% in June from 3.0% in May, averaging 3.0% in the three months up to June.

The components of M3 showed mixed results. The annual growth rate of narrower aggregate M1 decreased to 3.4% in June from 3.7% in May, while the annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 2.8% in June from 1.4% in May.

The holding sectors of deposits in M3 also showed variations. The annual growth rate of deposits placed by households decreased to 2.6% in June from 2.8% in May, while the annual growth rate of deposits placed by non-financial corporations increased to 5.3% in June from 4.2% in May.