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Home > Statistics > Narrow Money (Notes & Coin) and Reserve Balances - August 2012

Narrow Money (Notes & Coin) and Reserve Balances - August 2012

05 September 2012


Seasonally adjusted, notes and coin outstanding in August were on average 0.4% higher than in July. The twelve-month growth rate was 5.1% in August, compared to 5.0% in July.

 Table A: Notes and coin and reserve balances

Chart 1: Growth rate of notes and coin    Chart 2: Growth rate of notes and coin (long run)

Click on the above images to enlarge  



Table A - Notes & Coin and Reserve Balances


Revisions to Table A (18KB)


Highs and Lows


Notes to Editors
  1. Notes and coin in circulation represents all holdings outside the Bank of England (including those in banks’ and building societies’ tills), but excluding backing assets for commercial banknote issue in Scotland and Northern Ireland. Further information on notes and coin, reserve balances and calculations of growth rates
    can be found in Bank of England Monetary and Financial Statistics, or via the following links:
  2. An adjusted version of notes and coin is also available on the Bank’s Statistical Interactive Database. This series excludes Bank estimates of the effects of specific non-seasonal events on the level of notes and coin in circulation. To date, the series has been adjusted for the effects of: the £1 note write-off in 1998; the funding of the winter fuel payments; the turn of the millennium; the fuel dispute of 2000; and the threatened strike action affecting note distributors in 2003. The relevant codes are:
    LPMB8H4(Amounts outstanding) LPMB7H7 (3 month annualised growth rate)
    LPMB8H5 (Changes) LPMB7H9 (6 month annualised growth rate)
    LPMB7H5 (1 month growth rate) LPMB8H3 (12 month growth rate)
  3. The Statistical Interactive Database provides long runs of statistical data with comprehensive search options and the ability to download in a variety of formats (at The series codes are listed in Table A in this release.


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      Next release : 03 Oct 2012
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