The central bank usually curbs this money-supply growth by borrowing back much of the excess yuan.
Nor were other indicators such as money-supply growth or wages pointing to rate cuts.
Money-supply growth still looks sluggish in Britain, Japan and the euro zone (see chart).
Another chart shows that whenever money-supply growth has exceeded gross domestic product growth, small-caps tend to rise.
ECB's strict monetarists probably disagree, arguing that the faster rate of money-supply growth signals higher inflation ahead.
Mr Walker estimates domestic saving from money-supply and capital-account data (which, again, should be more reliable than national-account numbers).
The Bundesbank has been pushing hard for a German-style money-supply target, supplemented, perhaps, by some sort of long-term inflation yardstick.
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Central bank governor Dai Xianglong aims to keep money-supply growth lagging GNP.
America's labour market remains tight and money-supply growth has been worryingly rapid.
Contrary to conventional wisdom, net Fed assets have not increased for about 18 months and money-supply growth has not been excessive for the circumstances.
Money-supply data published earlier Friday showed a sharp slowdown in bank lending to households and companies in December, when banks were still preoccupied with seeing out 2011 safely.
Although the European Central Bank, unlike all other big central banks, has not cut interest rates this year, broad-money-supply growth has quickened, to 5.0% in the year to March.
It has not forgotten the mistake it made in 1987 when, despite rapid money-supply growth, it cut interest rates in an overzealous response to the crash on Wall Street.
The Bundesbank, in line with its own practice over the past 25 years, favoured a money-supply target, in which interest rates are changed to keep monetary growth within a specified range.
Optimists point out that U.S. money-supply numbers look robust.
What you need is a whoosh of water--that's money supply--combined with some Drano--that's fiscal restructuring.
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After the country hit a low level of monthly money supply growth, the three-month change in M-2 money supply climbed to record levels during the final month of the year, says Greg Weldon of Weldon Financial.
Trying to create a strong dollar by controlling the money supply itself is hopeless--these days there are numerous definitions of money supply.
Broad-money supply was flat in the euro zone in the 12 months to the end of March.
Some Fed officials with monetarist roots learned the money supply-inflation connection.
The narrowest measure of the money supply - in effect, cash on bank balance sheets - has risen by 58% since September, as you'd expect when the Bank is handing their customers all that freshly created money in exchange for the purchased gilts.
In particular, some seem to believe that the absence of strict control over the money supply -- notably the hemorrhaging of subsidized credits to bankrupt state-owned industries (read the military-industrial complex) -- is accepted by the Russian government as the single greatest obstacle to true structural change and that corrective action is in the offing.
The experiment in "monetarism" - using the control of the money supply to control inflation - was quite quickly abandoned.
The Bank of Japan, the Federal Reserve and the Bank of England have all embarked on a process of quantitative easing -- increasing the supply of money in the economy -- while also introducing other policies such as an unemployment benchmark and a funding for lending scheme, intended to encourage banks to loan to small businesses.
Eventually, the week-to-week money supply numbers proved too erratic to target directly (the demand for money balances became less stable).
Take a look at the chart below, which shows the year-over-year money supply compared to the MSCI China Index over the past decade.
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Until currencies are rebalanced, the new, new orthodoxy of ever-increasing money supply pressure to try and restart the flow of economic activity will not solve the problem of developed world growth.
Or to put it another way, he believes there is a vast amount of money locked up in industry's relatively inefficient supply chain - and if this money can be released smaller companies would have much less need for external finance.
These crises were not caused by money that was too stable in value, but rather a short-term inflexibility of the base money supply around the harvest season.
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Argentina's inflexible currency-board scheme not only pegs the peso at par to the dollar but limits the money supply to the level of hard-currency reserves, in effect turning monetary policy over to the United States' Federal Reserve.
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