Key points from the data to the end of November 2017 include:
Part one: Broad money and credit
- Broad money increased by £9.6 billion in November (Table A). Within this, the flow of private non-financial corporations’ (PNFCs’) and households’ M4 was above the recent average, at £8.0 billion (Table B and C).
- The net flow of sterling credit was £7.1 billion in November (Table A). Combined lending to households and PNFCs was £4.0 billion, similar to the previous month (Table B and C).
Part two: Lending to individuals
- Secured net lending remained stable in November at £3.5bn (Table H), broadly in line with the average seen since 2016.
- Mortgage approvals rose in November (Table I), driven by a continuing increase in remortgaging approvals to 53,922.
- The annual growth rate of consumer credit slowed to 9.1% in November (Table J), the lowest rate since December 2015. This fall partly reflects a particularly strong flow in November 2016 falling out of the annual growth rate.
Part three: Lending to businesses
- PNFCs raised £2.2 billion from UK MFIs and Capital Markets in November (Table L).
- Net bond issuance strengthened over the year and was £5.7 billion in November (Table L), the largest since June 2009.
- Lending to non-financial businesses weakened towards the end of the year, with the annual growth rate for all types of business falling to 1.7% in November (Table M).
Next release date: 30 January 2018