Sep 26 2024: Bank lending in the eurozone saw a modest increase in August, continuing its gradual recovery since the start of the year, likely influenced by expectations of further European Central Bank (ECB) rate cuts in the coming months, according to ECB data released on Thursday.
Credit extended to companies grew by 0.8% in August, up from 0.6% in July, while lending to households rose by 0.6%, following a 0.5% increase the previous month. Both metrics have been steadily rising throughout the year.
Additionally, the broad measure of money supply circulating in the eurozone, often seen as a predictor of economic activity, grew by 2.9% in August, exceeding the 2.6% forecast in a Reuters poll of economists.
