Money (annual variation in %)
The stock of money in the economy can be measured according to different definitions. The simplest way to measure it is to use the amount of cash and reserves held within the banking system and the cash held by individuals. This definition is also called the “monetary base” and can be broadened by adding more types of money. For instance, bank deposits are usually included in a broader measure of the stock of money in the economy, since they are also used as a means of payment.
The annual variation of the stock of money refers to the increase with respect to the previous year. This will influence the evolution of prices, which will alter consumers’ and businesses’ perceptions of future prices and, consequently, consumption and investment behavior. Most central banks use the policy interest rate to curb growth in the quantity of money available in the economy and thus to influence prices. However, there are some central banks that try to control the quantity of money directly and let the money market determine the interest rates.
The table below shows the annual variation in money (based on different definitions) by country for the last five years.
Looking for forecasts? FocusEconomics Consensus Forecasts cover approx. 30 macro-economic indicators per country for a 5-year forecast period and quarterly forecasts for the most important economic variables. Get Details.
Money Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Algeria | 12.9 | 11.7 | 3.5 | 14.4 | - |
| Angola | 16.1 | 11.8 | 14.4 | 4.1 | - |
| Argentina | 28.9 | 28.2 | 30.4 | 26.0 | - |
| Armenia | -3.5 | 5.2 | 24.8 | 28.9 | - |
| Australia | 6.3 | 10.9 | 6.5 | 5.4 | - |
| Azerbaijan | 6.1 | -50.6 | 34.1 | 0.0 | - |
| Bahrain | 6.5 | 2.9 | 1.2 | 4.2 | - |
| Bangladesh | 16.1 | 12.4 | 16.4 | 10.9 | - |
| Belarus | 14.5 | -0.4 | 19.4 | 30.2 | - |
| Bolivia | 17.1 | 16.3 | -3.9 | 8.2 | - |
| Botswana | 4.6 | 19.9 | 5.4 | 2.7 | - |
| Brazil | 10.1 | 6.8 | 4.8 | 5.5 | - |
| Bulgaria | 1.2 | 8.8 | 7.6 | 7.7 | - |
| Canada | 4.9 | 5.9 | 8.6 | 5.8 | - |
| Chile | 8.2 | 10.6 | 10.1 | 4.7 | - |
| China | 12.2 | 13.3 | 11.3 | 8.1 | - |
| Colombia | 9.1 | 12.5 | 6.9 | 7.1 | - |
| Costa Rica | 11.7 | 6.1 | 2.1 | -1.0 | - |
| Croatia | 9.6 | 11.4 | 18.2 | 19.1 | - |
| Czech Republic | 6.6 | 8.4 | 6.6 | 8.6 | - |
| Denmark | 7.7 | 10.3 | 7.5 | 5.2 | - |
| Dominican Republic | 10.2 | 11.6 | 10.0 | 10.3 | - |
| Egypt | 17.0 | 16.4 | 18.6 | 39.3 | - |
| El Salvador | -0.4 | 6.3 | 3.4 | 10.4 | - |
| Estonia | 9.9 | 11.6 | 9.5 | 5.8 | - |
| Ethiopia | 29.1 | 21.7 | 25.1 | 29.8 | - |
| Eurozone | 3.8 | 4.7 | 5.0 | 4.7 | - |
| Georgia | 9.1 | -2.5 | 12.9 | 29.4 | - |
| Ghana | 33.0 | 26.6 | 24.6 | 19.8 | - |
| Guatemala | 8.7 | 9.5 | 6.6 | 8.4 | - |
| Haiti | 8.9 | 14.6 | 5.5 | 10.7 | - |
| Honduras | 13.2 | 7.8 | 13.3 | 13.9 | - |
| Hong Kong | 9.5 | 5.5 | 7.7 | 10.0 | - |
| Hungary | 9.0 | 7.5 | 9.9 | 9.9 | - |
| India | 10.7 | 11.5 | 6.7 | 21.8 | - |
| Indonesia | 11.9 | 9.0 | 10.0 | 8.3 | - |
| Iran | 22.3 | 30.0 | 23.2 | 22.1 | - |
| Jamaica | 4.4 | 14.5 | 11.9 | 29.1 | - |
| Japan | 3.5 | 3.1 | 3.9 | 3.6 | - |
| Jordan | 6.9 | 8.1 | 4.0 | 0.2 | - |
| Kazakhstan | -8.2 | 8.0 | 46.2 | 7.5 | - |
| Kenya | 18.6 | 14.2 | 4.2 | 7.4 | - |
| Korea | 8.1 | 8.2 | 7.1 | 5.1 | - |
| Kosovo | - | - | - | - | - |
| Latvia | 11.8 | 13.9 | 7.4 | 5.9 | - |
| Lithuania | 1.5 | 33.1 | 7.3 | 5.9 | - |
| Malaysia | 7.5 | 3.3 | 3.2 | 5.1 | - |
| Mexico | 11.4 | 5.2 | 6.8 | 8.2 | - |
| Moldova | -4.2 | -9.2 | 18.3 | 14.3 | - |
| Mongolia | 12.5 | -5.5 | 21.0 | 30.5 | - |
| Morocco | 5.0 | 7.0 | 6.3 | 7.9 | - |
| New Zealand | 10.3 | 14.2 | 2.1 | - | - |
| Nicaragua | 13.0 | 19.1 | 10.5 | 13.0 | - |
| Nigeria | 20.6 | 5.9 | 17.8 | 2.3 | - |
| North Macedonia | 7.3 | 7.7 | 6.2 | 3.8 | - |
| Norway | 6.4 | 0.6 | 5.1 | 6.0 | - |
| Pakistan | 12.6 | 12.8 | 14.5 | 13.9 | - |
| Panama | 31.0 | -1.2 | 0.4 | 1.2 | - |
| Paraguay | 7.8 | 5.8 | 8.1 | 16.4 | - |
| Peru | 7.3 | 2.0 | 11.5 | 13.0 | - |
| Philippines | 10.5 | 9.1 | 13.3 | 11.6 | - |
| Poland | 8.8 | 9.6 | 9.7 | 4.5 | - |
| Portugal | 0.9 | 4.4 | 8.9 | 8.0 | - |
| Qatar | 10.6 | 3.4 | -4.6 | 21.3 | - |
| Romania | 8.4 | 9.4 | 9.8 | 11.5 | - |
| Russia | 1.5 | 11.3 | 9.2 | 10.5 | - |
| Saudi Arabia | 14.6 | 2.4 | 3.6 | -1.0 | - |
| Serbia | 12.1 | 14.4 | 15.1 | 7.9 | - |
| Singapore | 3.3 | 1.5 | 8.0 | 3.2 | - |
| Slovakia | 5.2 | 11.1 | 5.2 | 6.2 | - |
| Slovenia | 6.7 | 5.0 | 7.7 | 6.6 | - |
| Sri Lanka | 13.1 | 17.2 | 18.9 | 17.5 | - |
| Sweden | 5.6 | 8.2 | 7.2 | 7.1 | - |
| Switzerland | 2.6 | 1.4 | 3.9 | 4.0 | - |
| Taiwan | 6.1 | 5.8 | 3.6 | 3.6 | - |
| Tajikistan | 3.5 | 12.2 | 56.7 | 36.6 | - |
| Tanzania | 13.4 | 5.3 | 10.4 | 3.8 | - |
| Thailand | 1.3 | 5.7 | 4.8 | 9.4 | - |
| Trinidad and Tobago | 13.1 | -1.4 | 3.2 | -2.1 | - |
| Tunisia | 8.0 | 8.4 | 8.0 | 16.9 | - |
| Turkey | 11.9 | 17.1 | 18.3 | 15.7 | - |
| USA | 6.2 | 5.8 | 6.8 | 5.7 | - |
| Uganda | 14.8 | 5.6 | 13.5 | 15.4 | - |
| United Arab Emirates | 7.9 | 5.5 | 3.3 | 4.1 | - |
| United Kingdom | 6.2 | 5.9 | 3.1 | 3.1 | - |
| Uruguay | - | - | - | - | - |
| Venezuela | 64.0 | 101 | 159 | 1,121 | - |
| Vietnam | 17.7 | 16.2 | 18.4 | 15.0 | - |
| Zambia | 11.3 | 24.9 | 0.1 | 20.7 | - |
Download Sample Report
Money Economic News
Korea: BOK stands pat in January and turns less dovish
January 17, 2020
At its 17 January monetary policy meeting, the Bank of Korea (BOK) voted to keep the base rate unchanged at 1.25%, as had been widely expected by market analysts.
Turkey: Central Bank cuts policy rate in January for fifth consecutive time
January 16, 2020
At its 16 January Monetary Policy Committee (MPC), Turkey’s Central Bank slashed its one-week repo rate again, this time by 75 basis points to 11.25%.
Egypt: Central Bank leaves interest rates unchanged in January
January 16, 2020
The Central Bank of Egypt (CBE) held interest rates steady at its monetary policy meeting on 16 January, leaving the overnight deposit rate at 12.25%.
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
© Copyright: 2020 | Money | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed ...
