FXStreet (Delhi) – Teunis Brosens, Research Analyst at ING, notes that the the ECB Bank Lending survey shows that the upward trend in Eurozone credit continued steadily in the third quarter with business lending being the weak spot. Key Quotes “A net 33% of Eurozone banks reported increasing demand for household mortgages, which is down from the record high 49% in Q2 but is still very strong.” “Demand for business loans remains moderate with a net 16% of banks reporting increasing demand. This is hardly better than in Q2 (13%). Especially disappointing is the fact that there is no sign of an investment pickup:” “While the ECB claims that QE continues to support bank lending, the low rate-effect appears to be wearing off.” “All in all, today’s Bank Lending Survey gives us “more of the same”: the credit recovery is continuing, showing that the Eurozone recovery is keeping pace. But is that good enough? We would really have liked to see an acceleration of business lending as a signal of business confidence translating into higher investment activity. More verbal sabre rattling by ECB-president Draghi on Thursday is likely, but will it convince Eurozone businesses to start investing?” For more information, read our latest forex news.