2010.08.3105:43:00UTC+00U.K. M4 Money Supply Growth Slows In July

U.K. M4 money supply increased 2.3% year-on-year in July, slower than the 3.1% increase seen in June, the Bank of England reported Tuesday. Month-on-month, growth rose to 0.4% from 0.1%. The central bank confirmed the initial estimate released on August 19.

M4 excluding intermediate other financial corporations rose by GBP 0.6 billion in July, weaker than the GBP 5.3 billion rise in June. Three-month annualised growth eased to 5.6%. Further, data showed that M4 lending excluding intermediate OFCs increased by GBP 6.1 billion in July, stronger than the net repayment of GBP 6.9 billion seen in June.

The household sector's holdings of M4 were flat in July. The annual growth rate fell to 2.7% from 3% in June.

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