FX.co ★ Eurozone M3 Money Supply Hits New High

In November 2025, the M3 money supply within the Euro Area experienced a 3% increase on an annual basis, reaching a new high of €17.2 trillion. This growth follows a revised increase of 2.9% in October and surpasses market expectations of a 2.7% rise. Meanwhile, the more selective M1 aggregate, which includes currency in circulation and overnight deposits, saw a decline, moving to 5% from October's 5.2%. Additionally, the year-on-year growth rate for short-term deposits excluding overnight deposits (M2-M1) improved to -0.8% in November, up from -1.8% in the previous month. The growth rate for marketable instruments (M3-M2) rose to 1.6% in November, compared to 1.4% in October.