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The emphasis was switched to the growth of narrow money, as measured by M0.
These weapons are not used to restrain the growth rates of broad or narrow money.
The main official definitions of narrow money are M0, M1 and M2.
The much more limited test of M1, 'narrow money', including non-interest-bearing deposits, was favoured instead.
The transactions-plus-precautionary demand for narrow money is more interest elastic than for broad money.
The demand for narrow money will fall, but the demand for broad money (which includes both sight and time deposits) will remain the same.
Monetary growth on all measures has fallen sharply, and the growth of narrow money is within its target range; the growth of demand has slowed.
'Lower interest rates have contributed to a pick-up in the growth of narrow money, while retail sales have been on a steady upward trend for almost a year.
In economics, broad money is a measure of the money supply that includes more than just physical money such as currency and coins (also termed narrow money).
In assessing progress toward meeting the inflation target, there was a target for the growth of narrow money (M0) and monitoring ranges for the growth of broad money (M4).
Most of these loopy conspiracy theorists are not aware of (or do not understand) the distinction between narrow money and broad money in conventional economics, hence the neologism debt money.
The following table gives the average rate of growth of narrow money (NIB M1) and broad money (M3) over selected periods together with the annual inflation rate at the end of each period.
Monetary targets have been extended with the narrow money supply target remaining at zero to 4 per cent while the broad money target range has been widened a point on either side to between 3 and 9 per cent.
In economics, the monetary base (also base money, money base, high-powered money, reserve money, or, in the UK, narrow money) is defined as the sum of currency circulating in the public and commercial banks' reserves with the central bank.
Goodhart first used it in a 1975 paper, and it later became used popularly to criticize the United Kingdom government of Margaret Thatcher for trying to conduct monetary policy on the basis of targets for broad and narrow money.