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UK April money supply grows by £9B


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UK April money supply grows by £9B

The U.K.'s money supply increased by £9.0 billion in April as households' M4 flows improved to £4.4 billion and M4 flows from private nonfinancial corporations increased to £3.8 billion, data from the Bank of England showed May 31.

Broad money, M4, excluding intermediate other financial corporations, was up 0.4% from the previous month and 7.3% annually, compared to 0.5% and 6.7% hikes, respectively, in March, the central bank said.

The number of mortgage approvals for house purchases fell further to 64,645 in April from 66,837 in March.

Lending secured on dwellings increased by £2.7 billion in the month, the lowest net change since April 2016. Meanwhile, consumer credit rose by £1.5 billion in the month.