yy -0.6% vs -3.2% prev
mortgage approvals 61.3k vs 62.5k exp vs 61.5k prev revised down from 61.8k
An improvement in money supply tempered by lower mortgage approvals
GBP lower anyway on the weaker mftg PMI reading with GBPUSD posting session lows at 1.5323
EUR GBP testing offers/res into 0.7350
M4 comprises:
The M4 private sector's (i.e. the UK private sector other than monetary financial institutions (MFIs)) holdings of:
- sterling notes and coin;
- sterling deposits, including certificates of deposit;
- commercial paper, bonds, FRNs and other instruments of up to and including five years' original maturity issued by UK MFIs;
- claims on UK MFIs arising from repos (from December 1995);
- estimated holdings of sterling bank bills
Full details from the Old Lady at www.bankofengland.co.uk
