Money and Credit - January 2017

Our monthly Money and Credit statistical release is made up of three parts: broad money and credit, lending to individual and lending to businesses.

Published on 01 March 2017

Key points from the data to the end of January 2017 include:

Broad money, M4 excluding intermediate other financial corporations, increased by £2.4 billion in January (Table A) with positive flows for households’ and private non-financial corporations’ (PNFC) M4 (Tables B-D). The non-intermediate other financial corporation (NIOFC) M4 flow was negative in January and lower than the recent average.
Sterling lending to the UK private sector excluding intermediate other financial corporations, M4L^ex, decreased by £3.7bn in January (Table A). Positive net lending to households and PNFCs, with PNFCs being above the recent average, was offset by a strong negative flow for NIOFCs (Tables B and D).

Lending secured on dwellings rose by £3.4 billion in January. Gross lending and repayments both increased and were above their recent averages (Table H).
Approvals of loans secured on dwellings for house purchase increased for the fourth consecutive month and, at 69,928, were the highest since February 2016 (Table I).
The net flow of consumer credit was £1.4 billion in January (Table J). The twelve-month growth rate ticked down to 10.3% (Chart 9).

PNFCs’ net finance raised from monetary financial institutions and capital markets was £3.3 billion in January (Table L).
Loans to large non-financial businesses increased by £3.9 billion in January, compared to the recent average of £0.5 billion (Table M). Loans to small and medium-sized enterprises (SMEs) decreased by £0.2 billion.