ECB Noyer - Little M3 impact from euro changeover

GERMANY - European Central Bank Vice President Christian Noyer said Thursday that the bank doesn't expect the changeover to euro notes and coins next year to have a significant impact on M3 money supply growth.

Speaking at the ECB's press conference following its monthly rate-setting meeting, Noyer said that "the effects of the cash changeover on M3 growth should remain very limited."

"Although we have seen a significant decline in currency in circulation over recent months, currency only repre

To continue reading...