Money and Credit - January 2018

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 2018

Key points from the data to the end of January 2018 include:

Part one: Broad money and credit

  • Broad money increased by £9.6 billion in January (Table A). Within this, households’ M4 increased by £3.4 billion (Table B), slightly above the recent average. The flow of private non-financial corporations' (PNFCs’) M4 was £1.6 billion (Table C). 
  • The net flow of sterling credit was -£2.9 billion in January (Table A). Within this, however, the flow for households was broadly stable at £3.5 billion (Table B). 

Part two: Lending to individuals

  • Annual growth in secured lending was unchanged at 3.3% in January (Table H), with net lending at £3.4 billion.
  • Mortgage approvals increased in January (Table I) for both house purchase and remortgaging, to 67,478 and 49,242 respectively.
  • The annual growth rate for consumer credit has slowed over the past year to 9.3% (Table J), driven by other loans and advances.

Part three: Lending to businesses

  • PNFCs raised £0.8 billion from UK MFIs and Capital Markets in January (Table L), with relatively small contributions from all components. 
  • Lending to non-financial businesses fell by £1.6 billion in January (Table M). Loans to small-and-medium sized enterprises fell by £0.7 billion, the largest decline since December 2014. 

PDFMoney and Credit - January 2018

ExcelTables A-O

ExcelHighs and lows

Next release date: 29 March 2018

View interactive charts

Further details about our data


Queries

If you have any comments or queries about this release please email dsd_ms@bankofengland.co.uk.

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