M3 Money Supply

It includes all currency in circulation, bank deposits and debt securities up to 4 years. Deutsche Bundesbank and the European Central Bank treat it as one of the most important indicators of inflation. Usually the maximum acceptable value of the indicator is set (acceptable level of inflation defined), and if the indicator exceeds this value, usually interest rates are increased. The indicator is taken into account by the market.

• Release Frequency: monthly.
• Source: Deutsche Bundesbank.