27.03.202607:00:00UTC+00Estonia’s M3 Money Supply Edges Lower in February 2026, Signalling Slight Liquidity Tightening

Estonia’s broad money supply (M3) recorded a marginal decline in February 2026, hinting at a slight tightening in overall liquidity conditions. According to the latest data, updated on 27 March 2026, the M3 aggregate slipped to 30,163.0 billion from 30,171.0 billion in January 2026.

The move represents a modest month-on-month decrease in the broadest measure of money circulating in the Estonian economy, which includes currency in circulation, deposits and other liquid instruments. While the change is small in absolute terms, it may be watched by market participants and policymakers as a potential early signal of shifting credit demand or changes in savings and investment behavior.

The February reading suggests that, at least for now, Estonia’s money supply growth has paused after stabilizing at the January level, adding a cautious note to the outlook for domestic liquidity and financial conditions in the early part of 2026.