Euro Area Monetary Aggregates Slow Down in July

The European Central Bank has released new data on monetary developments in the euro area for July 2026. The annual growth rate of the broad monetary aggregate M3 stood at 3.4% in July, after a slight increase to 3.3% in June.

However, the annual growth rate of narrower monetary aggregate M1 decreased to 3.1% in July from 3.5% in June, a change attributed to a revision in the previous month's data. This decrease marks a slowdown compared to the previous month.

The adjusted loans to households maintained their pace, with an annual growth rate of 3.1% in July, compared to 3.0% in June. On the other hand, the annual growth rate of adjusted loans to non-financial corporations increased to 4.4% in July from 4.0% in June.