Key measures of money supply and bank lending both fell in October, raising further questions about the effectiveness of the Bank of England’s £200bn ($329bn) programme to pump cash into the economy.
Money supply as measured by M4 “broad” money excluding distortions from the financial sector shrank by 0.7 per cent in the month and by 5.3 per cent over the last three months annualised, figures from the Bank showed on Monday.
