Was browsing the recent media releases on the RBA site, and came across this one, released a few days ago: http://www.rba.gov.au/statistics/frequency/fin-agg/2010/fin-agg-1210.html It states: "Over the year to December, broad money grew by 8.1 per cent." Broad money is defined as ".... M3 plus other borrowings from the private sector by AFIs, less the holdings of currency and bank deposits by RFCs and cash management trusts." (it's in the Notes tab of the spreadsheet below) So, our money supply grew by over 8% in 2010. This seems like a big jump over the preceding 12 months: http://www.rba.gov.au/statistics/frequency/fin-agg/2010/fin-agg-0110.html It states: "Over the year to January (2010), broad money grew by 3.3 per cent." Now, check out the historical growth here: http://www.rba.gov.au/statistics/tables/xls/d03hist.xls (EDIT: Fixed link) This shows that the Australian money supply, as defined in 'broad money' terms, has doubled in the last 7 years: Dec 2003: $667.4 billion Dec 2010: $1329.4 billion To me, this sounds both highly inflationary, and evidence of the abundance of credit over the past few years here in Australia. Thoughts?