Lending to euro zone households grew at its fastest pace since late 2010 last month but corporate lending unexpectedly slowed, fresh data from the European Central Bank showed today.
Lending to households in the 19-member currency bloc picked up to 2.3% in February from 2.2% a month earlier, its best rate since December 2010.
This suggests that the ECB's cheap cash is slowly making its way to the household sector.
But corporate lending growth slowed to 2% from 2.3% a month earlier, its lowest rate since June and possibly breaking its recent trend for slow but steady acceleration.
The annual growth rate of the M3 measure of money circulating in the euro zone, which has in the past often predicted economic activity, rose 4.7% last month, slowing from 4.8% in January.
It also missed expectations for growth of 4.9% in a Reuters poll.