Definition: Broad money

Category: IMF terminology

A measure of the money supply in an economy, with broad coverage. Broad money usually includes national currency and deposits held by residents in depository institutions; these deposits may be either transferable, such as demand deposits, or nontransferable, such as term deposits; deposits denominated in foreign currency and held by residents may also be included in broad money. http://www.imf.org/external/np/exr/glossary/showTerm.asp