Money supply · Euro Area
Euro Area M3 Money Supply YoY
The Euro Area M3 Money Supply YoY measures the amount of money in the economy of the Euro Area: cash and current accounts (M1), plus savings and time deposits (M2), plus broader instruments such as money-market funds and repos (M3 or M4). Balance-sheet and reserve figures show the central bank's own money.
- Importance
- Low
- Released
- Monthly
- Next release
- Currency
- EUR · euro
- Central bank
- The European Central Bank
Latest figures
The latest release for SEP, published on 27 October 2026, came in at 3.5%, above the consensus of 3.4%, unchanged from 3.5% the time before.
Over the last 12 releases it ranged from 2.7% to 3.5%, averaging 3.1%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 27 Oct 2026 | SEP | 3.5% | 3.4% | 3.5% |
| 25 Sep 2026 | AUG | 3.5% | 3.5% | 3.4% |
| 27 Aug 2026 | JUL | 3.4% | 3.4% | 3.3% |
| 29 Jun 2026 | MAY | 3.2% | 2.7% | 3.3% ® |
| 1 Jun 2026 | APR | 2.7% | 3.3% | 3.2% |
| 29 Apr 2026 | MAR | 3.2% | 3.1% | 3% |
| 26 Mar 2026 | FEB | 3% | 3.3% | 3.3% |
| 26 Feb 2026 | JAN | 3.3% | 2.9% | 2.8% |
| 29 Jan 2026 | DEC | 2.8% | 3% | 3% |
| 2 Jan 2026 | NOV | 3% | 2.7% | 2.8% |
| 27 Nov 2025 | OCT | 2.8% | 2.8% | 2.8% |
| 27 Oct 2025 | SEP | 2.8% | 2.8% | 2.9% |
Why it matters
Money growth was once a direct target of central banks; today it is read as a signal of lending, spending and future inflation, and of how loose or tight the European Central Bank's policy really is (quantitative easing shows up here first).
How it is calculated
Banks report their deposits to the central bank, which adds them up by category; the figure is usually shown as the change from a year earlier.
M1 = currency + overnight deposits
M2 = M1 + short-term savings and time deposits
M3 = M2 + repos, money-market funds and short debtWhat changes mean
- Fast money growth with an economy near full capacity is a warning of inflation to come.
- Shrinking money (as in 2023 in several countries) signals tight credit.
- Markets usually react little; it matters for the medium-term picture.
A short history
Milton Friedman's monetarism made money supply the centre of policy in the 1970s and early 1980s ("inflation is always and everywhere a monetary phenomenon"). Its link with inflation proved unstable and central banks moved to interest-rate targets.
Questions
What is the Euro Area M3 Money Supply YoY?
The Euro Area M3 Money Supply YoY measures the amount of money in the economy of the Euro Area: cash and current accounts (M1), plus savings and time deposits (M2), plus broader instruments such as money-market funds and repos (M3 or M4). Balance-sheet and reserve figures show the central bank's own money.
What was the latest Euro Area M3 Money Supply YoY?
3.5% for SEP, published on 27 October 2026 (consensus 3.4%, previous 3.5%).
When is the next Euro Area M3 Money Supply YoY?
On Thursday 26 November 2026 at 09:00 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.