Where Data Tells the Story
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The global broad money-to-GDP ratio reached 121% in Q3 2025, but levels varied widely among the top 20 economies. Ratios were highest in East Asia—Japan (256%), Taiwan (247%), China (243%), and South Korea (171%)—and lowest in Argentina (21%) and Turkey (39%). Moderate ratios of 60–80% were observed in countries such as the United States, India, Mexico, Russia, Saudi Arabia, and Poland. Some economies with high ratios, particularly in East Asia, tend to experience low inflation, whereas some those with low ratios, like Argentina and Turkey, face persistently high inflation.