Issing says ECB has found M3 analysis difficult

Speaking on Monday the ECB's chief economist Otmar Issing said that it has been difficult for the ECB to analyse M3 because of a series of temporary shocks. Changes in reserve requirements at the start of EMU, statistical distortions and portfolio shifts following financial market instability have all affected the M3 data, he said.

Source: AFX Europe

European Central Bank chief economist Otmar Issing said the ECB has found if difficult to analyse M3 money supply growth because of a number of te