Seasonally adjusted, notes and coin outstanding in June were on average 2.3% higher than in May. The twelve-month growth rate was 5.9% in June, compared to 3.6% in May.
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(1) With the 28 May 2012 bank holiday moving to 4 June and an additional bank holiday on 5 June, to celebrate the Queen’s Diamond Jubilee, care should be taken when interpreting or comparing the data
points around this period. The seasonal adjustment process has not automatically taken this effect
into account. Once additional monthly data are available, the Bank of England will investigate the
effect and judge whether refinements to the seasonal adjustment process are appropriate.
Table A - Notes & Coin and Reserve Balances
Revisions
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- 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:
www.bankofengland.co.uk/statistics/Pages/iadb/notesiadb/nc.aspx
www.bankofengland.co.uk/statistics/Pages/iadb/notesiadb/growth_rates.aspx.
- 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)
|
- 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 www.bankofengland.co.uk/boeapps/iadb/newIntermed.asp). The series codes are listed in Table A in this release.
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Next release : 01 Aug 2012
