Print Edition - 2018-08-29  |  Money Digest

Eurozone loan growth pauses in July: ECB


Aug 29, 2018-

The pace of lending to eurozone firms and households paused in July, official data showed on Tuesday, complicating the picture for the European Central Bank as it prepares to scale back its easy money policies. Credit to non-financial firms grew 3.0 percent year-on-year last month, adjusting for some purely financial transactions, the same rate as in June. Growth in borrowing to households was also flat month-on-month at 4.1 percent, the ECB said in a statement. The pace of loan growth is a key indicator of financial health for the ECB as it prepares to withdraw its massive support for the eurozone economy. Overall, credit to the private sector in the 19-nation single currency area increased 3.4 percent in July, a slowdown of 0.1 percent from June as financial firms like pension funds and insurance companies borrowed less. (AFP)

Published: 29-08-2018 08:09

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