London, March 12 (BridgeNews) - U.K. seasonally adjusted narrow M0 money supply rose 0.6% on the month and 8.4% on the year, the Bank of England reported Monday. This final monthly data marked only a marginal revision from the earlier monthly estimate, when the Bank said February M0 rose by 0.7%, while the annual 8.4% increase was unchanged.
* * * The year-on-year growth in M0 was well up on the levels recorded in January and February, but these were distorted by the comparison with the inflated money supply numbers recorded around the millennium. The 8% yearly growth level is a return to the kind of figures seen towards the tail end of 2000.
M0 refers to U.K. notes and coins in circulation and banks' deposits with the Bank of England.