Eurozone July M3 money supply +3.4% vs +3.5% y/y expected

• Prior +3.3%

Broad money growth in the euro area continues to hold thereabouts, averaging 3.5% in the three months to July. With the ECB now in pause mode, one can expect this to reflect more modest figures in the months ahead. However, that correlation is not an exact science/mechanic so yeah.