The annual growth rate of the broad monetary aggregate M3 decreased to 1.1% in March 2014, from 1.3% in February 2014.1 The three-month average of the annual growth rates of M3 in the period from January 2014 to March 2014 stood at 1.2%, unchanged from the previous period. Regarding the main components of M3, the annual growth rate of M1 decreased to 5.6% in March 2014, from 6.2% in February. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was less negative at -2.3% in March, from -2.6% in the previous month. The annual growth rate of marketable instruments (M3-M2) was more ... (full story)