Euro Zone Lending Growth Accelerates in July

Growth in bank lending to euro zone companies and households picked up in July, according to data released by the European Central Bank (ECB). This marks the first full month after the ECB raised interest rates for the first time in nearly three years. The annual growth rate of loans to non-financial corporations was 4.4% in July, an increase from 4.0% in June.

Lending to households also grew at a faster pace, with a 3.1% annual growth rate in July, up from 3.0% in the previous month. The ECB data suggests that the euro zone economy is showing signs of resilience despite rising interest rates and economic uncertainty.