Sterling M3

Updated: Aug 20, 2021

A former measure of broad money in the UK, including the following components: (1) MO, that is, currency, plus banks’ till money, plus banks’ balances at the Bank of England; (2) UK private sector sight bank deposits; and (3) UK private sector time deposits plus public sector sterling deposits. This measure is now known simply as M3.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.