Based on its regular economic and monetary analyses, the Governing Council decided at its meeting on 5 July to cut the key ECB interest rates by 25 basis points.
The annual growth rate of loans to the private sector (adjusted for loan sales and securitisation) declined to 0.4% in May (from 0.8% in April). Annual growth rates for loans to both nonfi nancial corporations and households (adjusted for loan sales and securitisation) also decreased in May, to 0.2% and 1.3% respectively, with negative monthly loan flows to non-financial corporations.
Download File: ECB: Monthly Bullettin - July 2012
