April 26, 2008	Saturday	Rabi-us-Sani 19, 1429

FRANKFURT, April 25: Eurozone money supply growth, a leading indicator of inflation, slowed sharply in March, provisional data from the European Central Bank showed on Friday.

Growth of the ECB’s broad M3 measure fell back to 10.3pc in March from 11.3pc the previous month, the central bank said, slightly below an average analyst forecast of 10.4pc compiled by Thomson Financial News.

Loans to the private sector, a sub indicator watched closely by central bankers, rose by 10.8 per cent in March, down slightly from the February pace of 11 per cent, the bank said in a telephone conference.

In November, the M3 indicator, which includes cash, overnight deposits, other short-term deposits, repurchase agreements, shares and units in money market funds and debt securities with a maturity of up to two years, stood at a record high of 12.3 per cent.—AFP