Amadeusz Juskowiak

Uk confirms january sterling m3 rise

The Bank of England said the broad measure of UK Money supply Sterling M3 rose a seasonally adjusted 11 pct in January after a 02 pct rise in December

The unadjusted yearonyear rise was 176 pct after 181 pct in the year to December

The narrow measure of money supply M0 fell by a seasonally adjusted 06 pct in January and rose by a nonadjusted 41 pct yearonyear the Bank said

The figures confirm provisional data issued by the Bank two weks ago

In December M0 grew by a seasonally adjusted 14 pct and by a nonseasonally adjusted 52 pct yearonyear

The Bank said sterling bank lending grew by a nonseasonally adjusted 175 billion stg in January This also confirmed provisional figures issued in February

The measure of private sector liquidity PSL2 fell 02 pct in January but after seasonal adjustment rose 06 pct the Bank said

The Bank said the public sector contribution to the growth in Sterling M3 was contractionary by about 23 billion stg

Within this the Public Sector Borrowing Requirement PSBR showed a repayment of 37 billion stg while the nonbank private sectors holdings of government debt fell by about 11 billion stg

There was a fall of 290 mln stg in notes and coin in January a fall of 15 billion stg in noninterest bearing sight deposits and a rise of 16 billion stg in interest bearing sight deposits the Bank said