UK broad money, M4 excluding intermediate other financial corporations (OFCs), increased by £4.4 billion in July, compared to the average monthly increase of £5.6 billion over the previous six months. The three-month annualised and twelve-month growth rates were both 3.8%. M4Lx is defined as M4 lending excluding the effects of securitisations and loan transfers. M4Lx excluding intermediate OFCs increased by £4.0 billion in July, compared to the average monthly increase of £1.3 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.5% and 1.2% respectively. Households’ ... (full story)