29 June 2005, 15:04  UK M4 money supply rose 1.7 pct

UK M4 money supply rose 1.7 pct in May from the previous month on a seasonally adjusted basis, unchanged from the preliminary estimate, the Bank of England said. On a year-on-year basis, M4 increased by 11.6 pct, also unchanged on the preliminary estimate. The latest monthly rise was last equaled in March 2000, while the annual rise of 11.6 pct was the highest since December 1997. M4 refers to "broad money", which includes cash and coins in circulation, bank deposits and money market paper. The BoE also reported that M4 lending expanded a seasonally adjusted 20.7 bln stg, revised up from the preliminary estimate of 20.3 bln stg. M4 lending refers to sterling loans made by the central bank, banks and building societies to the private sector.

© 1999-2024 Forex EuroClub
All rights reserved