M3 growth is used by the ECB as a hallmark of future inflation.
Tuesday’s records “will likely do little to alternate belief that the ECB is about to sit tight” at its October 20 assembly, IHS Global Insight analyst Howard Archer wrote, arguing that the significant bankers could be happy with strong increase in lending to companies and households.
The ECB will need to keep away from a Brexit blow to banks’ willingness to lend, he went on, and could add to stimulus in December.
But in the end “much will rely upon whether agencies and households emerge as more careful about borrowing” within the unsure publish-Brexit global, Archer said.
financial leaders 