The annual growth rate of the broad monetary aggregate M3 decreased to 2.5% in April 2012, from 3.1% in March 2012.1 The three-month average of the annual growth rates of M3 in the period from February 2012 to April 2012 stood at 2.7%, unchanged from the previous period. Regarding the main components of M3, the annual growth rate of M1 decreased to 1.8% in April 2012, from 2.8% in March. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at 3.2% in April, unchanged from the previous month. The annual growth rate of marketable instruments (M3-M2) decreased to 2.9% in April, from ... (full story)