Provisional estimates of broad money (M4)
and credit (M4 lending)
December 2009
Seasonally adjusted provisional figures for December are as follows. M4 fell by £21.9 billion(1.1%), below the average flow for the previous six months of £11.3 billion. The twelve-month growth rate continued to fall, to 6.4% from 9.2% in November.
M4 lending increased by £6.8 billion (0.3%) in December. The twelve-month growth rate continued to fall, to 5.3% from 5.6% in November.
M4 lending (excluding the effects of securitisations etc.) fell by £4.6 billion (0.2%) in December. The twelve-month growth rate continued to fall, to 4.4% from 6.2% in November.
These provisional data suggest that banks' and building societies' deposit business with financial companies that are part of the same group, together with repo activity with other financial companies, accounted for most of the decrease in M4 in December. Most of these effects will be excluded from the measure of M4 excluding intermediate OFCs to be published in the Sectoral breakdown of aggregate M4 and M4 lending on 1 February 2010 (http://www.bankofengland.co.uk/statistics/fm4/current/index.htm).
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Click on the above images to enlarge
Table A - M4 and M4 lending |
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PDF Version (11k) |
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Microsoft Excel Version (20k) |
| Table B - MFIs' balance sheet counterparts to changes in, and components of, M4 | |
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PDF Version (13k) |
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Microsoft Excel Version (20k) |
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Revisions to Tables (13k) |
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PDF Version (10k) |
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Notes and definitions for M4 |
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Notes and definitions for Counterparts of M4 (including M4 Lending) |
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Information on growth rates and revisions policy. |
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Next release with sectoral breakdown: 1 February 2010
Next release provisional estimates: 18 February 2010
