FRANKFURT--Lending to eurozone firms and households increased in July, data from the European Central Bank showed Thursday, suggesting that the ECB's accommodative monetary policy is gradually working its way into the private sector.
The data showed that loans to firms grew by 0.9% in July in annual terms, higher than the 0.2% seen in June. Lending to households rose by 1.9% on the year versus 1.7% in June.
Separately, the ECB's broad measure of money supply, M3, was up 5.3% on the year, ahead of 4.9% in June.
