Euro Area Bank Loans Continue to Rise

According to ECB data, bank loans in the Euro area continue to increase. The European Central Bank's data released on Thursday indicated that loans to businesses and households in the Euro area continued to accelerate last month, supporting claims that parts of the bloc's economy have hit bottom and a "soft landing" has commenced. The growth in loans to businesses rose from 1.1% in September to 1.2% in October, marking the highest level since mid-2023. Meanwhile, the growth in loans to households increased from 0.7% the previous month to 0.8%. The M3 money supply expanded at a rate of 3.4%, reaching the level last seen in December 2022.