FRANK­FURT:

The Pak Banker - - FRONT PAGE -

Growth of loans to the pri­vate sec­tor in the euro area, a gauge of eco­nomic health, is pick­ing up speed, sug­gest­ing the Euro­pean Cen­tral Bank's mon­e­tary pol­icy is fi­nally work­ing, ECB data showed Thurs­day.

Af­ter long months of con­trac­tion, the vol­ume of loans to pri­vate busi­nesses and house­holds in­creased by one per­cent in July com­pared with the same month in 2014, the ECB said in a state­ment. The pre­vi­ous month, pri­vate sec­tor loans had in­creased by 0.6 per­cent.

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