| Narrow | Broad | Short | Long | Equity | |
|---|---|---|---|---|---|
| Money | Money | Interest | Interest | Market | |
| (M1) | (M2) | Rate | Rate | Yield | |
| 1990 | 3.6 | 5.5 | 8.06 | 8.55 | 3.60 |
| 1991 | 6.0 | 3.7 | 5.87 | 7.86 | 3.21 |
| 1992 | 12.5 | 1.9 | 3.75 | 7.00 | 2.95 |
| 1993 | 11.6 | 1.1 | 3.22 | 5.86 | 2.78 |
| 1994 | 6.2 | 1.4 | 4.67 | 7.08 | 2.86 |
| 1995 | -0.2 | 2.1 | 5.93 | 6.57 | 2.61 |
| 1996 | -3.2 | 4.8 | 5.41 | 6.43 | 2.15 |
| 1997 | -3.3 | 4.9 | 5.59 | 6.34 | 1.73 |
| 1998 | 1.0 | 7.4 | 5.38 | 5.26 | 1.46 |
| 1999 | 2.0 | 7.6 | 5.23 | 5.64 | 1.23 |
| 2nd qtr.1999 | 2.3 | 8.0 | 4.89 | 5.55 | 1.22 |
| 3rd qtr.1999 | 2.0 | 7.6 | 5.27 | 5.87 | 1.23 |
| 4th qtr.1999 | 1.8 | 6.1 | 5.93 | 6.13 | 1.21 |
| 1st qtr.2000 | 5.92 | 6.48 | 1.16 | ||
| April 1999 | 2.4 | 8.1 | 4.80 | 5.18 | 1.21 |
| May | 2.4 | 8.1 | 4.84 | 5.58 | 1.22 |
| June | 2.1 | 7.9 | 5.04 | 5.89 | 1.23 |
| July | 2.1 | 7.9 | 5.15 | 5.78 | 1.19 |
| August | 2.4 | 7.7 | 5.30 | 5.93 | 1.24 |
| September | 1.7 | 7.1 | 5.38 | 5.90 | 1.25 |
| October | 1.5 | 6.4 | 5.95 | 6.10 | 1.27 |
| November | 1.4 | 6.0 | 5.86 | 6.02 | 1.19 |
| December | 2.4 | 5.8 | 5.97 | 6.27 | 1.16 |
| January 2000 | 2.3 | 5.7 | 5.83 | 6.65 | 1.16 |
| February | 1.0 | 5.3 | 5.90 | 6.56 | 1.18 |
| March | 6.03 | 6.25 | 1.14 | ||
| This table shows growth rates for the most widely followed measures of narrow and broad money, a representative short- and long-term interest rate series and an average equity market yield. All figures are percentages. | |||||
| Monetary growth rates: show the percentage change over the corresponding period in the previous year, and are positive unless otherwise stated. All growth rates refer to the seasonally adjuste d series except for Japan and Italy. NB - For EMU members, data prior to 1999 from national sources; 1999 EMU-11 data supplied by the ECB. Interest rates: short-term, period averages of US - 90-day commercial paper, Japan - 3-month certificates of deposit, Germany - 3-month Fibor, France - 3-month Pibor, Italy - 3-month Euro-lira, UK - 3-month Libor; long-term, period average yields on 10-year benchmark government bonds. Interest rates supplied by Datastream. Equity market yield: period averages of the gross dividend yield on the relevant FT-A world index. | |||||