by Mon, 28 Jun 2010 10:22:00 +0200
EMU: Money Supply fails to meet expectations over the quarter, remaining unchanged
FXstreet.com (Barcelona) - The European Central Bank recently released the M3 money supply over the quarter at -0.2%, unchanged since the first quarter of 2010. Analysts had the all-important inflation indicator posting a flat result at 0% over the quarter. Over the year, the money supply similarly dipped to -0.2% despite expectations for a slight increase to 0.3%.
M3 is a measure of money supply that is released by the European Central Bank. It calculates all currency in circulation, bank deposits, repurchase agreements, debt securities up to 2 years and the value of money market shares. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rate. An acceleration of the M3 money is considered as positive, or bullish for the EUR, whereas a decline
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