“UK Money Supply Stops Growing in Possible Recession Warning”
August 30, 2023
“Britain’s broad money supply has stopped growing for the first time in at least 13 years, a reading that will deepen concerns among monetarists urging the Bank of England to show restraint in its battle against inflation…
King warned in an interview with Bloomberg last month that the central bank’s rate-setters were ignoring warning signs in money data.
“The risk is that having ignored money when inflation was rising, they’re now ignoring money when inflation is actually about to fall,” he said. “If they carry on for the next six months or so, tightening monetary policy, it could well be that they generate both a recession as well as a sharp fall in inflation.”…”
https://finance.yahoo.com/news/uk-money-supply-stops-growing-103321333.html