Euro area broad monetary aggregate M3 annual growth reached 3.5% in August 2026

In August 2026, the annual growth rate of the broad monetary aggregate M3 in the euro area was 3.5%, up from 3.4% in July 2026. Meanwhile, the annual growth rate of the narrower aggregate M1 decreased to 2.9% from 3.1% in July. Key contributors to M3's growth included claims on the private sector, which contributed 3.4 percentage points, and net external assets, contributing 2.5 percentage points. Deposits by households decreased to 2.4% in August from 2.6% in July, while deposits by non-financial corporations decreased to 4.7% from 5.3% in July.