UK M4 Money Supply Rises In July

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Thursday, the Bank of England said in a preliminary report that the M4 money supply increased 13.6% year-over-year in July, faster than the 13.3% growth in June, revised from 13.8% increase reported initially. Economists had expected an increase of 13.3%.

On a monthly basis, money supply rose 1% in July, after falling 0.3% in June, revised from a 0.2% decline estimated initially. Economists were looking for an increase of 0.2%.

Meanwhile, the M4 lending, excluding the effects of securitisations etc increased 9.6% annually in July, slower than the 10.9% increase in June, and it was a flat reading compared to the preceding month.

Thursday, the Bank of England said in a preliminary report that the M4 money supply increased 13.6% year-over-year in July, faster than the 13.3% growth in June, revised from 13.8% increase reported initially. Economists had expected an increase of 13.3%. (Market News Provided by RTTNews)