ECB: Bank Lending to Companies Corporate Hits Eight-Year High

By Tom Fairless Features Dow Jones Newswires

Bank lending to private companies in the eurozone accelerated in August to an eight-year high, according to a report Wednesday from the European Central Bank, suggesting the region's economic recovery continues to strengthen.

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The news will give confidence to ECB policymakers as they prepare to decide next month whether to reduce their monetary stimulus.

Private-sector lending to non-financial firms was up 2.5% on an annual basis, the ECB said in its monthly report, compared to a 2.4% reading in July.

The broadest measure of money supply, M3, rose 5% on an annual basis last month, the ECB said, up from July's 4.5% rise.

-Write to Tom Fairless at tom.fairless@wsj.com

(END) Dow Jones Newswires

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September 27, 2017 04:32 ET (08:32 GMT)