Eurozone: Mixed credit growth while money supply growth matched the cyclical high - BBH

Research Team at BBH, suggests that the news stream remains light and the main data was ECB money supply and credit figures for August. 

Key Quotes

“Money supply growth matched the cyclical high of 5.1%.  Credit growth was mixed.  Lending to households edged higher to 2.0% from 1.9%, a three-month high.  Lending to non-financial businesses slipped to 1.1% (from 1.3%), the lowest past since April.  Lending is expected to be supported by the increased take down of TLTRO II.  The ECB reported at the end of last week that the banks took 45.3 bln euros in the second offering, up from 32 bln in the first.”