18 May 2021

Revised and updated method for publication of broad money (M3)

The Bank has now revised its calculation of M3. The changes are of two types. First, the publication and presentation of M3 have been harmonised, so that only broad money adjusted for breaks in time series due to structural changes in the financial market is published. Second, a new data series including M3 plus money market fund unit shares and deposit institutions’ short-term debt instruments is now published. The new series is called M3+.

With these changes, data on broad money are fully in line with methodology recommended by the International Monetary Fund. The time series have been recalculated back to 2008.

See here a pdf-file with the announcement:

Revised and updated method for publication of broad money (M3).

See further: Monetary statistics.

See here: An Excel-file with the statistics.

Back