Eurozone: Focus on M3 data, with lending data for July - TDS

Research Team at TDS, suggests that today market participants will be keenly watching the Eurozone M3 data, with lending data for July.

Key Quotes

“Lending to households has been growing steadily for the last few quarters, while lending to non-financial corporations has yet to show the same kind of growth, although it has at least stopped contracting. The ECB’s last bank lending survey had respondents noting that the TLTROs had helped to support profitability, which the ECB hopes will provide the incentive to spur NFC loan growth.”