Thursday, 3 October 2013

Increased Growth for UK M3 Money Supply in August

The year on year (YoY) growth rate in M3 Money Supply for the UK increased from 4.9% in July to 5.7% in August, the largest increase since December 2010, according to the latest monetary data released by Bank of England.

Meanwhile, the YoY growth rate in M4 Money Supply also increased at the fastest pace since December 2010. At 2.5%, the growth rate in August expanded from the 2.1% and 1.4% reported for July and June.

Base Money (Narrow Money + Bank Reserve Balances) for the UK expanded further in August driven by a 17.8% increase in Bank Reserve Balances compared to the same period last year. The YoY growth in base money of 15.1% was however the lowest reported since December 2011 following a steady decline from the previous peak of 62.2% reported for November last year.

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