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Bank of Canada RSS Feedsen2024-03-28T20:32:43+00:00Interpreting recent changes in monetary aggregates
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r952a.pdf
In 1994, broad monetary aggregates such as M2+ grew at an unusually slow rate, indicating a continuation of low inflation. Narrow money, M1, ballooned early in the year, partly for technical reasons. However, its overall deceleration for the year as a whole would be consistent with lower output growth in the first half of 1995 than was seen the year before.
During the first half of 1994, there was a continued shift by investors from deposits into equity, bond and mortgage mutual funds. In the second half of the year, following a rise in interest rates and a fall in the yields posted by mutual funds, there was a movement back into M2+. In this annual review of the monetary aggregates, the author discusses the reasons for these shifts and their implications for M2+.1995-05-09T14:02:17+00:00enInterpreting recent changes in monetary aggregates1995-05-09