# ECB: broad money growth holds at 3.5% in September

> The ECB says M3, its broad money measure, grew 3.5% on the year in September 2026, unchanged from August. M1 growth slowed to 2.7% from 2.9%.

- Canonical URL: https://forextradingcommunity.com/news/ecb-m3-money-growth-holds-3-5-percent-september-2026/
- Type: Central banks
- Published: 2026-11-03
- Updated: 2026-11-03
- Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team
- Currencies: EUR

The European Central Bank's press release of 27 October 2026 puts annual growth of M3, its broad monetary aggregate, at 3.5% in September, unchanged from August. The three-month average was also 3.5% ([ECB, Monetary developments in the euro area: September 2026](https://www.ecb.europa.eu/press/pr/stats/md/html/index.en.html)).

## Key figures, September 2026

- **M3, annual growth**: 3.5% (August: 3.5%)
- **M1, annual growth**: 2.7% (August: 2.9%)
- **Adjusted loans to households**: 3.1% (unchanged)
- **Adjusted loans to non-financial corporations**: 4.2% (unchanged)
- **Deposits of non-financial corporations**: 5.3% (August: 4.7%)
- **Deposits of households**: 2.3% (August: 2.4%)
- **Deposits of investment funds other than money market funds**: 0.2% (August: 1.7%)

M1 is currency in circulation and overnight deposits. M3 adds short-term deposits other than overnight deposits, and marketable instruments. In September, the first of those components rose to 4.6% from 4.1%, and the second to 7.1% from 6.6%. For the ECB's latest policy decision, see [ECB keeps its deposit rate at 2.50% as energy prices rise](/news/ecb-keeps-deposit-rate-2-50-percent-october-2026/).

## Sources

- [European Central Bank: Monetary developments in the euro area, September 2026, press release of 27 October 2026](https://www.ecb.europa.eu/press/pr/stats/md/html/index.en.html)

## Common questions

### What was euro area M3 growth in September 2026?

3.5% on the year, unchanged from August, according to the ECB's release of 27 October 2026.

### What is M3?

The ECB's broadest money aggregate. It is made up of M1, short-term deposits other than overnight deposits and marketable instruments.

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