-The annual growth rate of euro zone money supply (M3) remained unchanged at 2.5% in October compared with the previous month, according to a report release by the European Central Bank (ECB).
-“Looking ahead, there are still reasons to think that monetary conditions may improve further over the coming months. Admittedly, the pace of deleveraging by banks was unchanged in October, after slowing for six straight months. But with the publication of the ECB’s Asset Quality Review and stress tests at the end of October, which required only a handful of banks to raise more capital by next July, deleveraging pressures may well ease further,” said Capital Economics in a note to its clients on Thursday.
-The data underscores the slow pace of recovery in the banking sector in the bloc and will be useful in putting pressure on the ECB to offer more stimulus measures, said the note.
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