Monday, 29 July 2013

M3 Money Supply Growth for the UK Heading Up, Quickest YoY Growth Rate for 30 Months

The UK monetary base (reserve balances + narrow money) continues to expand rapidly according to figures released for the month of June from the Bank of England.

M3 money supply growth has picked up during the last seven months following 23 months with negative year on year (YoY) growth during the January 2011 to November 2012 period. The M3 grew by 5.2% for the month of June compared to June last year, the quickest YoY growth rate since December 2010, or 30 months ago.

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