Eurozone January M3 money supply +3.5% vs +3.9% y/y expected | Forexlive

• Prior +4.1%

Since the ECB has started reducing asset purchases, money supply has continued to fall quickly in the euro area. That isn’t showing up materially in large parts of the economy as borrowing seems to be holding up, though the country-specific details might beg to differ. This is a neat table from ING last week: