Between 2001 and 2023, the value of the M2 money supply in the euro area increased from under 4.6 trillion euros in 2001 to approximately 15.1 trillion euros in 2023. Despite the overall increase, 2023 was the first year in the observed period, that the money supply in the euro area decreased.
M2 money supply
M2 is the calculation of money supply, which includes cash, checking deposits and convertible near money. Considered broad money, the money supply M2 includes M1. The measurement is used as a factor in forecasting inflation and interest rates and is used by central banks in creating and regulating policies.
M1 and M3 money supply
Money supply, in its broad sense, measures the value of monetary assets available to a country's economy at a given time. M1, which includes money in circulation and overnight deposits in the euro area amounted to over 10.4 trillion euros at the end of 2023. M3, called "broad money" is the sum of M1 (currency in circulation and overnight deposits), M2 (M1 plus deposits with a maximum maturity of two years and deposits redeemable at notice for a maximum of three months) and marketable instruments issued by Monetary Financial Institutions such as repurchase instruments or money market fund units. The value of money supply M3 amounted to 16.1 trillion euros as of December 2023.
Development of the money supply M2 in the euro area from 2001 to 2023
(in billion euros)
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ECB. (January 25, 2024). Development of the money supply M2 in the euro area from 2001 to 2023 (in billion euros) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/
ECB. "Development of the money supply M2 in the euro area from 2001 to 2023 (in billion euros)." Chart. January 25, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/
ECB. (2024). Development of the money supply M2 in the euro area from 2001 to 2023 (in billion euros). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/
ECB. "Development of The Money Supply M2 in The Euro Area from 2001 to 2023 (in Billion Euros)." Statista, Statista Inc., 25 Jan 2024, https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/
ECB, Development of the money supply M2 in the euro area from 2001 to 2023 (in billion euros) Statista, https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/ (last visited November 21, 2024)
Development of the money supply M2 in the euro area from 2001 to 2023 (in billion euros) [Graph], ECB, January 25, 2024. [Online]. Available: https://www.statista.com/statistics/254226/development-of-the-money-supply-m1-in-the-euro-area/
