Euro Zone Lending Growth Accelerates After ECB Rate Hike

The European Central Bank (ECB) released data showing that lending to euro zone companies and households picked up in July. This growth comes after the ECB raised interest rates for the first time in nearly three years.

Loans to non-financial corporations grew at an annual rate of 4.4% in July, up from 4.0% in June. Lending to households increased by 3.1%, a slight improvement from the 3.0% growth seen in June.

The data suggests that the ECB's decision to raise interest rates is having a positive impact on lending in the euro zone. The increase in lending growth could be a sign of economic recovery and stability in the region.