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In boost to ECB, eurozone lending climbs in November

Loans to households in the single currency area grew by 1.9 percent year-on-year, compared to 1.8 percent a month earlier, the ECB saidLending to households and companies picked up in November in the eurozone, the European Central Bank said Thursday, signalling that its efforts to encourage spending and investment are gaining traction. IHS Markit economist Howard Archer described the figures as “a pleasing set of news for the ECB”. “The ECB will particularly welcome a pick-up in the growth rate in eurozone bank lending to businesses to a more than five-year high in November,” he said.

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