| 单词 | monetary base |
| 释义 | monetary base The part of the money supply which is eligible to count as reserves in the banking system. Some monetary theorists argue that if the monetary authorities can control the amount of base money the rest of the money supply will adjust automatically. How far this is true depends on how stable bank reserve ratios are, and on how far base money is also held outside the banking system, for example as notes and coin in general circulation. |
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