Description

Central bankers have devoted considerable efforts to monitoring and analyzing the various measures of money. In Chile, the definitions of monetary aggregates—barring a few minor changes—have been in place since the 1980s and range from M1 to M7, a departure from
international practices and standards.
This situation has prompted the Central Bank of Chile to regroup and redefine money aggregates, reducing them to three categories—from M1 to M3—together with extending the coverage of its instruments.