FX.co ★ UK M4 Money Supply Swings Back to Growth in February, Rising 0.6% MoM

United Kingdom broad money supply (M4) returned to positive territory in February 2026, expanding by 0.6% month-over-month, after contracting by 0.1% in January. The latest data, updated on 30 March 2026, indicate a clear shift in short-term liquidity conditions compared with the start of the year.

In January 2026, the M4 measure—often watched as a gauge of overall monetary conditions in the economy—had slipped by 0.1% versus the previous month, signaling a mild tightening or slowdown in money growth. February’s 0.6% rise reverses that weakness, pointing to an increase in the stock of money held by households, businesses, and financial institutions relative to January.

On a month-over-month comparison basis, the “actual” February reading reflects the change from January to February 2026, while the “previous” figure captures the change from December 2025 to January 2026. The move from a slight decline to moderate growth suggests a stabilization in money supply dynamics as the UK moves further into 2026, a factor that will be closely monitored in the broader context of inflation, credit conditions and monetary policy decisions.