The European Central Bank (ECB) reported its monetary statistics for the euro area for the period ending November on 2 January 2013.
Base money continued to increase substantially on last year, but over the last nine months it has been relatively stable. Compared to previous month it dropped 2.6% however, the third consecutive month of declines on previous month. The M1 monetary aggregate also continued to increase on last year and at 6.7% it was the biggest YoY percentage increase since August 2010. It increased 0.4% on previous month. The M2 money supply continued its upward climb increasing 4.6% on November last year, the largest YoY percentage increase since July 2009. The value of M1 and M2 both hit new all-time highs for the month, while base money was 8.09% lower than the all-time high hit in June 2012.
Base money continued to increase substantially on last year, but over the last nine months it has been relatively stable. Compared to previous month it dropped 2.6% however, the third consecutive month of declines on previous month. The M1 monetary aggregate also continued to increase on last year and at 6.7% it was the biggest YoY percentage increase since August 2010. It increased 0.4% on previous month. The M2 money supply continued its upward climb increasing 4.6% on November last year, the largest YoY percentage increase since July 2009. The value of M1 and M2 both hit new all-time highs for the month, while base money was 8.09% lower than the all-time high hit in June 2012.
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