The United Kingdom's broad money supply
The UK's measure of broad money: sterling deposits and short-term instruments held by households and firms.
M4 counts notes and coin plus sterling deposits at UK banks and building societies held by the private sector, along with short-dated bank paper. Its growth reflects bank lending, government financing and the Bank of England's asset purchases and sales together. Twelve-month growth fell below zero in 2011 and 2012 and again in 2023, when quantitative tightening and weak lending coincided; it stayed positive through the recessions of 2009 and 2020. The zero line on worldstat.us is a construction, not a tested rule.
On this site
- M4 money, y/y United Kingdom +3.9 % Normal
Related terms
Bank of England · credit impulse · recession