The annual growth rate of the broad monetary aggregate M3 stood at 2.7% in September 2012, compared with 2.8% in August 2012.1 The three-month average of the annual growth rates of M3 in the period from July 2012 to September 2012 stood at 3.0%, compared with 3.1% in the period from June 2012 to…
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Monetary developments in the euro area