BoE: Supply of money in Britain takes an upturn

first_img KCS-content BoE: Supply of money in Britain takes an upturn Tuesday 1 March 2011 8:06 pm Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img THE Bank of England’s overall measure of the money supply grew by 0.8 per cent in January, it announced yesterday.Over 12 months total “M4” fell by 1.7 per cent, but some analysts point to signs of a pick up in the figures.The Bank’s preferred “core” money measure – excluding intermediary non-bank financial companies – rose 0.7 per cent in the first month of the year, and was up 4.9 per cent annualised in the three months to January.“This is above a level likely to be consistent with the two per cent inflation target over the medium term,” said Henderson economist Simon Ward.“Governor Mervyn King has repeatedly cited sluggish broad money growth as a reason for nonchalance about the current inflation overshoot,” Ward said. “But an increase in velocity has the same economic impact as monetary expansion – and velocity climbed 2.1 per cent in 2010, the largest annual rise since 1979.”The upturn in the money supply was largely driven by the government sector, analysts noted.“A breakdown reveals UK institutions to be a significant net seller of paper in January,” said David Owen, economist at Jefferies International. whatsapp Show Comments ▼ whatsapp Sharelast_img read more