Monetary aggregates

English
DOI: 
10.1787/6ac4b7ed-en
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Monetary aggregates are the money circulating in an economy to satisfy its current monetary needs. There are two indicators for monetary aggregates collected by the OECD: "narrow money" (M1); a means of exchange and "broad money" (M3); a way to store value. Monetary aggregates are measured as a seasonally adjusted index based on 2010=100.

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Keywords:  M1, M3, monetary, money, broad, aggregate, narrow
 

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  • Narrow money (M1)

    M1 includes currency i.e. banknotes and coins, plus overnight deposits.  M1 is measured as a seasonally adjusted index based on 2010=100.
  • Broad money (M3)

    Broad money (M3) includes currency, deposits with an agreed maturity of up to two years, deposits redeemable at notice of up to three months and repurchase agreements, money market fund shares/units and debt securities up to two years. M3 is measured...
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