UK broad money, M4ex, is defined as M4 excluding intermediate other financial corporations (OFCs). M4ex increased by £8.9 billion in January, compared to the average monthly increase of £6.3 billion over the previous six months. The three-month annualised and twelve-month growth rates were 4.3% and 4.0% respectively. M4Lex is defined as M4 lending excluding intermediate OFCs. M4Lex increased by £11.4 billion in January, compared to the average monthly increase of £6.5 billion over the previous six months. The three-month annualised and twelve-month growth rates were 5.6% and 3.8% respectively. Households’ holdings of ... (full story)