Latest money supply data now out
- +4.9% prev
- adjusted household lending growth yy +1.2%
- adjusted non-financial corp lending growth yy +0.6%
- M1 yy +11.8%
M3 Money Supply measures the change in the total quantity of domestic currency in circulation and deposited in banks. An increasing supply of money leads to additional spending, which in turn leads to inflation
The ECB are keen to see the fruits of their easing labours spreading out into the economy and this data suggest that is indeed the case
Euro is finding a bit of dip demand again with EURJPY holding 129.85 and EURGBP chewing into offers around 0.7035 which in turn is capping cable
