Euro Area M3 Growth Rate Hits 3.5% in August

The European Central Bank released its latest report on monetary developments in the euro area for August 2026, showing that the annual growth rate of broad monetary aggregate M3 stood at 3.5%.

This is a slight increase from July's 3.4%, and averages 3.4% over the past three months.

The components of M3 showed varying developments: the annual growth rate of narrower aggregate M1, which comprises currency in circulation and overnight deposits, decreased to 2.9% in August from 3.1% in July.

On the other hand, the annual growth rate of short-term deposits other than overnight deposits (M2-M1) increased to 4.1% in August from 3.7% in July.