Monetay Aggregates

Monetary aggregates are broad measures of how much money exists in an economy.

Broad money is the most common method of measuring the amount of money the public holds in the economy. It is calculated using the IMF methodology and is presented in end of period terms.

The monetary base is another aggregate. It measures the total amount of cash that the central bank issued into circulation and commercial banks’ deposits held in the central bank. The monetary base is affected both by factors that are controlled by the Bank, such as purchases of foreign exchange and makam (central bank bills) issuances, as a means of achieving the various objectives of the monetary policy, and by factors that are not under the control of the Bank, such as government accounts.