Loan Growth In Eurozone Private Sector Improves: ECB
Fahad Shabbir (@FahadShabbir) Published August 26, 2016 | 02:28 PM
FRANKFURT, (UrduPoint / Pakistan Point News -26th Augst,2016) - Loans to the private sector in the euro area edged up slightly in July, European Central Bank data showed on Friday, in welcome news for the ailing eurozone.
For the ECB, the statistics are a key indicator of the economic health of the single Currency area, as borrowing is a main financing source for corporate investment which in turn should boost the eurozone's currently weak economy. In July, approved loans rose 1.3 percent from a year ago, slightly faster than growth of 1.2 in June, an ECB statement said. When certain strictly financial transactions are stripped out, the growth in loans also increased, with credit accorded to households and companies up 2.
0 percent in July after a rise of 1.9 percent in June.
The ECB has launched a raft of policy measures to get credit flowing, most significantly a massive programme to buy public sector bonds to pump liquidity into the system. The ECB beefed up that programme earlier this year and also launched a scheme of ultra-cheap loans to banks on condition they lend them on to households and businesses. Growth in the overall money supply, known as M3, slowed slightly to 4.8 percent in July, down from the 5.0 percent recorded in June, the ECB said. The ECB regards M3 money supply as a barometer for future inflation.
Recent Stories
At least 10 people killed in Brazil fire: officials
Shahzaib Rind calls on Deputy Speaker Balochistan
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-le ..
DC Tharparkar inaugurates anti-polio campaign
HDA Mehran workers demand salaries
Taxila police nab motorcycle lifter gang
Inter-university weightlifting championship kicks off at SAU
Walk held in a series of enrollment campaigns
Team from Gaza mediator Egypt arrives in Israel for truce talks
Kids murders: IHC orders psychiatric examination of mother
Health minister credits PML-N for advancements in organ transplantation
Court grants interim bail to Azam Swati in cyber crime case
More Stories From Business
-
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
30 minutes ago -
Police to take every step for security of business community: IGP
30 minutes ago -
WB director, Planning minister discuss reforms in development projects
38 minutes ago -
IP rights crucial in achieving SDG : Jam Kamal
2 hours ago -
FBR’s data protection efforts commended by OECD assessment team
2 hours ago -
US stocks rebound on tech earnings, London hits new record
3 hours ago
-
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
3 hours ago -
SBP to announce monetary policy on April 29
3 hours ago -
50pc cut in subsidy of BRT service likely: CM’s aide
4 hours ago -
PSX gains 771 points
4 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
5 hours ago -
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
5 hours ago