What does the Monetary Base (M0) measure?
M0 is the stock of the central bank's most liquid liabilities, typically currency in circulation held by the public plus bank reserves deposited at the central bank. It is the narrowest monetary aggregate.
How many countries and which frequencies and period are covered?
The indicator covers 26 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, spanning 1990–2026.
What units and transformations are available?
Values are available in millions of domestic currency, millions of USD, as a share of GDP and as a share of M2, with end-of-period, average-of-period, CPI-deflated constant-price and seasonally adjusted variants. Transformations include MA3, MA6, MA12 moving averages and month-over-month, quarter-over-quarter and year-over-year percentage changes.
Where does the data come from?
Data are compiled from national central banks and statistical agencies, including the Banco Central do Brasil, Banco de Mexico (Banxico), Banco Central de Chile, Banco de la República de Colombia and the Central Bank of Trinidad and Tobago, then harmonized by the IDB.
What is this indicator typically used for?
Analysts, researchers and policymakers use M0 to monitor central-bank liquidity provision, study monetary-policy operations and the money multiplier, and compare monetary conditions across Latin American and Caribbean economies.
How do I cite this indicator?
Cite it as: Inter-American Development Bank (IDB), Latin Macro Watch — "Monetary Base (M0)". data.iadb.org/dataset/latin-macro-watch-dataset.
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