ECB Reports Moderate Pace of Money Supply Expansion in June

The European Central Bank (ECB) has released its latest 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, a slight revision up from the initial reported figure of 3.2%. This indicates a moderate pace of money supply expansion.

The narrower monetary aggregate M1, which includes currency in circulation and overnight deposits, saw its annual growth rate decrease to 3.4% in June from 3.7% in May, also revised down from the initial reported figure of 4.0%. This decline suggests a slight slowdown in the pace of money creation.

The adjusted loans to households maintained their annual growth rate at 3.0%, unchanged from the previous month and revised up slightly from the initial reported figure of 3.1%. In contrast, the adjusted loans to non-financial corporations remained steady at 4.0%, matching the previous month's pace.