In November, bank lending to businesses in the eurozone declined due to high inflation and rising interest rates, according to ECB data.
In comparison to November of last year, bank lending to businesses in the euro area increased by 8.4%, down from 8.9% in October. At the same time, growth in consumer loans decreased from 4.2% to 4.1%.
The M3 monetary aggregate for the eurozone experienced annual growth of 4.8% in November vs 5.1% in October. The monetary aggregate was predicted to increase by 5.0%, according to economists surveyed by Reuters.
source: reuters.com
