FRANKFURT, March 27 (Reuters) - Bank lending to euro
zone companies slowed for the fourth straight month as an
economic downturn and increased caution from lenders appear to
be taking their toll, European Central Bank data showed on
Monday.
Lending to businesses in the 20 nation currency bloc
expanded by 5.7% in February after a 6.1% rise a month earlier
while household credit growth slowed to 3.2% from 3.6%.
Lending has slowed sharply in recent months on an economic
downturn and the fastest rate hikes by the ECB on record, with
surveys pointing to even weaker lending figures in the months
ahead.
The monthly flow of loans to companies was a negative 2.6
billion euros after a mere 1.4 billion euro expansion a month
earlier.
Growth in the M3 measure of money circulating in the euro
zone meanwhile slowed to 2.9% from 3.5%, coming below
expectations for 3.2% in a Reuters survey.
(Reporting by Balazs Koranyi
Editing by Francesco Canepa)
Reuters Messaging:
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