UK M4 money stock: private sector
UK M4 money stock: private sector stood at £3,064,747m 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 Jul 2009 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 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M4 money stock by sector (excluding intermediate OFCs) | |||||||||||
| Private sector total | 3,064,747 | 3,054,137 | 3,062,581 | 3,048,225 | 3,033,370 | 3,028,166 | 3,004,486 | 2,991,303 | 3,002,772 | 2,985,875 | |
| Households | 2,060,336 | 2,055,647 | 2,052,323 | 2,046,778 | 2,041,248 | 2,035,070 | 2,029,964 | 2,024,040 | 2,019,499 | 2,014,449 |
Understanding UK M4 money stock: private sector
Sterling monetary aggregates held by households and non-financial businesses across the United Kingdom reflect the total liquid assets available for spending and saving within the domestic economy. This measure captures notes and coin alongside bank and building society deposits denominated in pounds, while deliberately excluding holdings of intermediate other financial corporations to prevent double-counting within the financial intermediation chain. Unlike broader monetary totals that incorporate specialised financial institutions or narrower measures restricted strictly to retail sight accounts, this private sector aggregate isolates the liquidity directly owned by the non-bank, non-government domestic economy.
Interpreting these monthly monetary figures requires accounting for predictable calendar-related variations and administrative adjustments that frequently occur around tax deadlines and holiday periods. Initial statistical releases rely on sample returns from reporting institutions and undergo subsequent refinement as more complete administrative data becomes accessible. Analysts typically evaluate twelve-month growth rates rather than single-month changes to smooth out transitory volatility and uncover underlying shifts in liquidity creation. A common analytical pitfall involves treating this deposit measure as a direct proxy for nominal output, failing to recognise that money stock dynamics frequently diverge from gross domestic product movements due to portfolio reallocation between bank deposits and alternative wealth instruments.
Frequently asked questions
- Why are intermediate other financial corporations excluded from this private sector total?
- Their exclusion prevents double-counting that arises from complex transactions within the financial sector, ensuring the figure isolates genuine non-financial liquidity.
- Are foreign currency deposits included in this sterling money stock series?
- No, this specific metric measures sterling-denominated holdings only, omitting assets denominated in foreign currencies.
- How do revisions typically affect the earliest estimates of this monetary aggregate?
- Early estimates incorporate sample data from reporting institutions and face routine revisions when comprehensive regulatory returns are processed in subsequent months.