ECB: Eurozone Companies Continue to Gain Credit as the Economy Reopens

European Central Bank data showed that Eurozone companies continued to obtain bank credit in August, two months after most economies eased restrictions on economic activities aimed at controlling the Coronavirus pandemic.

Corporate bank loans rose 7.1% year-on-year, extending a borrowing boom that began in March when large parts of the Eurozone economy stopped activity and entrepreneurs were forced to withdraw credit lines to pay their bills.

The bank also reiterated its long-term guidance that it stands ready to adjust all its instruments when needed to boost inflation.