News Column

Swiss M3 Growth Slows Further In July

August 21, 2014

BRUSSELS (Alliance News) - Switzerland's broad money supply growth slowed for the second consecutive month in July, data from the Swiss National Bank showed Thursday.

The M3 money supply rose 3.5% year-over-year in July following the 4.1% growth in June. In May, M3 grew 8.1% annually.

The narrow measure of money supply, or M1, also increased 3.5% in July, which was slower than the 4.7% rise in June.

The central bank also announced that Swiss official reserves increased to USD556.79 billion in June from USD544.67 billion in May.

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Source: Alliance News

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