Bank of England data out Tuesday showed that the rate of broad money growth rose for a third consecutive month in March to levels not seen since the beginning of the credit crunch. The rise was owing to a rebound in M4 growth in the household sector and a further bolstering in the money holdings of financial entities.

M4 lending excluding intermediate other financial companies, the Bank's preferred measure of broad money, rose by £17 billion ($25 billion) in March to £1.55 trillion. It increased