Aussie money supply growth- December 2007 update

February 29th, 2008

Share |

In Australia?s monetary debasement & credit expansion, we showed you a graph of Australia?s (1) money supply growth (base money, M3 and broad money) and (2) the relativity between standard and fiduciary money since July 1959 to October 2007 (see Are we heading for a deflationary type of recession? for the meaning of standard and fiduciary money). The November 2007 update can be found at An update on Australia?s money supply growth. Today, we have an update of the December 2007 figures from the Reserve Bank of Australia (RBA):

  1. Year on year growth of M3 to December 2007 was 22.7%
  2. The standard money to fiduciary money ratio remained unchanged at 3.7%

It looks that up till December 2007, Australia?s monetary policy is still loose, despite the interest rates rise in November 2007. (see What makes monetary policy ?loose? or ?tight??).

Tags: ,