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Monetary and credit developments in 2011

Author

Listed:
  • J. Montornès.

Abstract

In 2011, the annual growth rate of euro area M3, which had turned positive in 2010 (1.7%), increased up until the summer of 2011 before falling back to 1.5% at the end of the year. Meanwhile, the French contribution to M3 stood at 3.3%, down sharply from the previous year (6.6%). Loans to the non-financial private sector continued to grow in France at a faster pace than in the euro area.

Suggested Citation

  • J. Montornès., 2012. "Monetary and credit developments in 2011," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 25, pages 53-62, Spring.
  • Handle: RePEc:bfr:quarte:2012:25:04
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    More about this item

    Keywords

    money; lending for house purchases; loans to enterprises.;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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