M1, called "narrow money", includes currency in circulation (banknotes and coins) and overnight deposits. It depicts the value of the most liquid components of the money supply. In the Eurozone, the value of money supply M1 amounted to over 10.3 trillion euros as of December 2023.
M2 money supply
M2 is the calculation of the 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. At the end of 2023, the value of the M2 money supply in the euro area amounted to approximately 15.1 trillion euros.
M3 money supply
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 of three months) and marketable instruments issued by Monetary Financial Institutions such as repurchase instruments or money market fund units. The value of M3 money supply in the euro area was valued at 16.1 trillion euros as of December 2023.
Development of the money supply M1 in the euro area from 2001 to 2023
(in billion euros)
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ECB. (January 25, 2024). Development of the money supply M1 in the euro area from 2001 to 2023 (in billion euros) [Graph]. In Statista. Retrieved November 25, 2024, from https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/
ECB. "Development of the money supply M1 in the euro area from 2001 to 2023 (in billion euros)." Chart. January 25, 2024. Statista. Accessed November 25, 2024. https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/
ECB. (2024). Development of the money supply M1 in the euro area from 2001 to 2023 (in billion euros). Statista. Statista Inc.. Accessed: November 25, 2024. https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/
ECB. "Development of The Money Supply M1 in The Euro Area from 2001 to 2023 (in Billion Euros)." Statista, Statista Inc., 25 Jan 2024, https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/
ECB, Development of the money supply M1 in the euro area from 2001 to 2023 (in billion euros) Statista, https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/ (last visited November 25, 2024)
Development of the money supply M1 in the euro area from 2001 to 2023 (in billion euros) [Graph], ECB, January 25, 2024. [Online]. Available: https://www.statista.com/statistics/254220/value-of-euro-coins-in-circulation-since-2002/
