About M2 Novčana masa (BRL)

M2 money supply for Brazil adds savings accounts, money market funds, and small time deposits to M1, providing a broader measure of the money stock. It is the most commonly referenced broad money aggregate in policy analysis.

Why FX traders watch it

M2 growth is a key input to monetarist models of inflation. The Banco Central do Brasil monitors M2 to assess the pace of credit creation and liquidity in the economy. Rapid M2 expansion can be a precursor to inflation.

How to interpret the data

Above-trend M2 growth over 6–12 months is a medium-term inflation risk and can support a hawkish Banco Central do Brasil stance, which is brl-positive. Contracting M2 (as seen in some post-QE tightening periods) signals deflationary pressure.

Historical M2 Novčana masa (BRL)

Source: BCB SGS · Monthly · BRL bn

Data provided by FXMacroData via the /api/v1/announcements/brl/m2 endpoint. For access, see pricing.

Data Source

Primary Source

BCB SGS

Official Series ID

SGS/27814

External Link

View Official Data Page

Data Format and Properties

Data Frequency

Monthly

Unit of Measure

BRL bn

JSON Response Structure

The endpoint returns a chronological list of observations in JSON format.

{ "currency": "BRL", "indicator": "m2", "has_official_forecast": false, "start_date": "2023-01-01", "end_date": "2023-12-31", "data": [ { "date": "2024-07-01", "val": 4.2, "announcement_datetime": 1722456000 } ] }

Request Parameters & Usage

Parameter	Required	Format	Description
`start_date`	NO	`YYYY-MM-DD`	Optional lower bound for the requested history.
`end_date`	NO	`YYYY-MM-DD`	Optional upper bound. Defaults to the current date.
`api_key`	CONDITIONAL	`string`	Required for non-USD announcement requests. USD announcement requests are public without an API key.

Example Usage

To retrieve M2 Novčana masa data for BRL from 2023:

GET https://fxmacrodata.com/api/v1/announcements/brl/m2?start_date=2023-01-01&end_date=2023-12-31&api_key=YOUR_API_KEY