UK Aug M4 money supply up 0.8 pct from July; up 13.7 pct yr-on-yr

The Bank of England said M4 money, a broad measure of money supply, rose by 0.8 pct in August from July on a seasonally adjusted basis, for a 13.7 pct year-on-year rise. The figures are unrevised from the provisional estimates. The annual rate is the highest since November 1990. In July, M4 rose by 1.0 pct from June and by 13.1 pct from a year earlier. Elsewhere, the BoE said M4 lending rose by 18.5 bln stg during the month, unchanged from the provisional estimate. In July it was up 21.0 bln stg. M4 lending refers to sterling loans made by the central bank, banks and building societies to the private sector. Excluding the effects of securitisations, M4 lending was 22.6 bln stg higher in August from 22.5 bln stg the previous month. The Bank of England has recently become increasingly concerned about the sharp rise in money supply and cited the "rapid growth of broad money and credit" as one of the reasons for raising interest rates by a quarter point in August.