The European Central Bank published euro area monetary data showing annual growth in the broad monetary aggregate M3 remained at 3.5% in September 2026. Lending growth to households and non-financial corporations also held steady, while growth in the narrower monetary aggregate M1 slowed. Annual M1 growth, covering currency in circulation and overnight deposits, fell to 2.7% from 2.9% in August. Growth in short-term deposits other than overnight deposits increased to 4.6% from 4.1%, while growth in marketable instruments rose to 7.1% from 6.6%. Annual growth in adjusted loans to the private sector remained at 4.3%. Within the non-financial private sector, household loan growth was unchanged at 3.1%, as was lending growth to non-financial corporations at 4.2%. These loan figures are adjusted for loan transfers and notional cash pooling.
European Central Bank reports euro area M3 growth steady at 3.5% in September
European Central Bank data show annual euro area M3 growth held at 3.5% in September 2026, while M1 growth eased to 2.7% from 2.9% in August. Annual growth in adjusted loans remained at 3.1% for households and 4.2% for non-financial corporations.