Broad Money (M3)
Broad Money (M3) is the widest measure of the money supply tracked in the Latin Macro Watch dataset of the Inter-American Development Bank (IDB). It includes M2 plus other liquid assets such as large time deposits, money market instruments and other financial instruments close to money, capturing the overall liquidity available in an economy. Economists, central bankers and researchers use M3 to gauge monetary conditions, credit dynamics and inflationary pressure across Latin America and the Caribbean.
Coverage
The series covers 23 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, spanning 1990 to 2026. Values are available in millions of domestic currency, millions of USD, as a share of GDP, as a share of M2, in CPI-deflated constant prices and seasonally adjusted, with period-average and end-of-period variants. Common transformations include moving averages (MA3, MA6, MA12) and month-on-month, quarter-on-quarter and year-on-year growth rates.
Sources
Data are compiled from national monetary authorities, including the Banco Central do Brasil, the Banco de Mexico (Banxico), the Banco Central de Chile, the Banco de la República de Colombia and the Banco Central de Reserva del Perú, among other central banks in the region.
Metadata & use
| Format | CSV |
|---|---|
| Language | en |
| Country |
Argentina
Bahamas
Trinidad & Tobago
Belize
Costa Rica
Dominican Republic
Ecuador
Bolivia
Brazil
Chile
Colombia
El Salvador
Jamaica
Mexico
Nicaragua
Guatemala
Guyana
Haiti
Honduras
Panama
Uruguay
Venezuela
Barbados
Paraguay
Peru
Suriname
|
| Data notes |
What does Broad Money (M3) measure?M3 is the broadest measure of the money supply. It includes M2 plus other liquid assets such as large time deposits and money market instruments, capturing the total liquidity available in an economy. How many countries and which periods are covered?The indicator covers 23 countries across Latin America and the Caribbean, with data spanning 1990 to 2026. At what frequencies is the data available?M3 is available at annual, monthly and quarterly frequency. What units and transformations are offered?Values are reported in millions of domestic currency or USD, as a share of GDP or M2, in CPI-deflated constant prices and seasonally adjusted. Transformations include MA3, MA6, MA12 moving averages and MoM, QoQ and YoY growth rates. Where does the data come from?The data are compiled from national central banks, including the Banco Central do Brasil, the Banco de Mexico (Banxico), the Banco Central de Chile and the Banco Central de Reserva del Perú. What is this indicator typically used for?Analysts use M3 to monitor monetary conditions, assess liquidity and credit dynamics, and anticipate inflationary pressure across Latin American and Caribbean economies. How do I cite this indicator?Cite it as: Inter-American Development Bank (IDB), Latin Macro Watch — "Broad Money (M3)." data.iadb.org/dataset/latin-macro-watch-dataset. |