UK M4 money stock
UK M4 money stock stood at £3,306,462m in Aug 2026, according to Bank of England. It is one of the indicators in the Money supply and central bank balance sheet table (Value · Monthly), with a complete series running from Jun 1982 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Money supply and central bank balance sheet table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M4 money stock | 3,306,462 | 3,298,488 | 3,307,531 | 3,280,107 | 3,274,185 | 3,271,619 | 3,244,235 | 3,224,003 | 3,227,234 | ||
| M4 — sterling notes and coin component | 99,441 | 98,703 | 99,678 | 97,651 | 97,478 | 97,091 | 95,760 | 95,263 | 95,554 | ||
| M4 lending | 106,434 | 106,228 | 106,050 | 105,509 | 105,170 | 104,608 | 103,574 | 102,945 | 103,348 | 104,273 |
Understanding UK M4 money stock
Broad money across the United Kingdom is quantified here through the headline M4 stock, spanning notes and coin circulating outside the banking sector alongside sterling bank and building society deposits held by the entire UK private sector. Unlike narrow liquid balances or sector-specific cuts such as household-only savings, this headline aggregate incorporates balances belonging to households, non-financial companies, and other financial corporations. It excludes foreign-currency holdings, central government deposits, and balances held directly between banks.
Evaluation relies on seasonally adjusted figures to smooth recurring quarterly corporate tax settlements and festive cash demands. Monthly shifts frequently see revisions when credit institutions file corrected balance-sheet returns, making annual percentage changes less volatile than monthly movements. Analysts should note that headline M4 includes intermediate other financial corporations, whose balance-sheet management and repo activities can distort perceptions of domestic economic liquidity relative to measures that strip these intermediaries out.
Frequently asked questions
- What assets are excluded from the headline M4 money stock?
- Foreign-currency bank deposits, balances held between banks, and central government deposits at commercial banks are excluded.
- How does headline M4 differ from measures excluding intermediate other financial corporations?
- Headline M4 includes funding vehicles and specialised financial intermediaries whose transactions often reflect interbank wholesale movements rather than spending on goods and services.
- Why are year-on-year comparisons generally preferred for broad money?
- Annual comparisons absorb short-term noise generated by corporate dividend distributions, tax calendar deadlines, and banking reporting adjustments.