As Sky News reports, in the weeks following the EU referendum, the rate at which households and businesses built up holdings of UK banknotes and coins rose above 8% a year for the first time since 2009, according to a Sky News analysis of Bank of England statistics.

The growth rate of cash in circulation has more than doubled since January, when it was running at 4% a year, with a sudden acceleration in the weeks following the EU poll.

In cash terms, the amount of notes and coins outside the banking system rose by £1.2bn since the end of May, and by £5.9bn in the past year - the biggest annual rise on record.

Sky News has also found that the proportion of UK banknotes circulating outside the banking system - in people's pockets, stored at home and outside the country - has now hit the highest level since 1979, as a percentage of GDP.