European Central Bank (ECB) M3 Money Supply y/y

Country:
European Union
EUR, Euro
Sector:
Money
Low 2.9% 2.5%
2.3%
Last release Importance Actual Forecast
Previous
2.8%
2.9%
Next release Actual Forecast
Previous
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The money supply is one of the most important variables of an economy. Although there is no uniform definition, it is always classified according to availability and the next higher category includes all lower ones. The ECB defines the first category of monetary aggregates, M0, as circulating currency, i.e. coins and notes, M1 as M0 plus funds on current accounts (payable on demand), M2 as M1 plus fixed-term deposits up to 2 years and savings deposits redeemable at notice at a maximum of 3 months and finally M3 as M2 plus shares in money market funds or securities and repurchase agreements and debt securities with a maturity of up to 2 years. Of these different monetary aggregates, M3 is the most important as it is the most stable. If, for example, only the savings interest rate changes, M1 and M2 are redeployed, but M3 remains constant.

In general, a positive relationship is assumed between the growth of money supply M3 and that of inflation, economic growth and income. This means that an insufficient money supply M3 has negative influences on the other three economic variables. An increase in M3 should therefore have a positive impact on the currency, as income and inflation will also increase as a result.

Last values:

actual data

forecast

The chart of the entire available history of the "European Central Bank (ECB) M3 Money Supply y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Aug 2024
2.9%
2.5%
2.3%
Jul 2024
2.3%
2.5%
2.3%
Jun 2024
2.2%
2.4%
1.5%
May 2024
1.6%
1.8%
1.3%
Apr 2024
1.3%
2.0%
0.9%
Mar 2024
0.9%
0.8%
0.4%
Feb 2024
0.4%
0.3%
0.1%
Jan 2024
0.1%
0.3%
0.2%
Dec 2023
0.1%
-1.5%
-0.9%
Nov 2023
-0.9%
-0.8%
-1.0%
Oct 2023
-1.0%
-1.6%
-1.2%
Sep 2023
-1.2%
-2.2%
-1.3%
Aug 2023
-1.3%
-1.3%
-0.4%
Jul 2023
-0.4%
0.0%
0.6%
Jun 2023
0.6%
0.8%
1.0%
May 2023
1.4%
1.4%
1.9%
Apr 2023
1.9%
2.0%
2.5%
Mar 2023
2.5%
2.3%
2.9%
Feb 2023
2.9%
3.3%
3.5%
Jan 2023
3.5%
4.2%
4.1%
Dec 2022
4.1%
4.0%
4.8%
Nov 2022
4.8%
4.1%
5.1%
Oct 2022
5.1%
6.5%
6.3%
Sep 2022
6.3%
6.3%
6.1%
Aug 2022
6.1%
5.6%
5.7%
Jul 2022
5.5%
5.6%
5.7%
Jun 2022
5.7%
5.0%
5.8%
May 2022
5.6%
5.7%
6.1%
Apr 2022
6.0%
7.1%
6.3%
Mar 2022
6.3%
7.5%
6.4%
Feb 2022
6.3%
7.5%
6.4%
Jan 2022
6.4%
6.7%
6.9%
Dec 2021
6.9%
6.5%
7.4%
Nov 2021
7.3%
7.0%
7.7%
Oct 2021
7.7%
6.7%
7.5%
Sep 2021
7.4%
7.7%
7.9%
Aug 2021
7.9%
7.6%
7.6%
Jul 2021
7.6%
8.4%
8.3%
Jun 2021
8.3%
7.9%
8.5%
May 2021
8.4%
8.4%
9.2%
Apr 2021
9.2%
9.0%
10.0%
Mar 2021
10.1%
12.2%
12.2%
Feb 2021
12.3%
13.2%
12.5%
Jan 2021
12.5%
13.0%
12.4%
Dec 2020
12.3%
11.4%
11.0%
Nov 2020
11.0%
11.0%
10.5%
Oct 2020
10.5%
11.0%
10.4%
Sep 2020
10.4%
9.5%
9.5%
Aug 2020
9.5%
10.5%
10.1%
Jul 2020
10.2%
9.4%
9.2%

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