MM2 component · monetary data
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Country-level broad-money series used as an M2-equivalent component of the MM2 production basket.
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Monetary mapping · Brazil
Brazil uses the official Banco Central do Brasil M2 series
Brazil enters MM2 through the official M2 series of Banco Central do Brasil. The QWM2 mapping classifies it as a core M2 / close variant, so the Brazilian component is structurally closer to the U.S. reference than jurisdictions where a differently named broad-money analogue must be used.
The common M2 label does not imply perfect instrument-level identity, and MM2 preserves that distinction. The goal is a harmonised broad-money panel built from official national statistics, not the imposition of one country’s legal definition on every monetary system. Brazil’s source series is retained in local currency and then converted into current U.S. dollars for aggregation. BRL/USD movements can therefore change the dollar value of the component even when the underlying Brazilian M2 stock moves more slowly, which is why the page reports both local and current-USD views.
Historical series
M2-equivalent through time
Yellow points and dashed yellow segments identify months where the latest official monetary stock was carried forward. The underlying observation remains explicitly non-official.
Methodological note
Country series within MM2
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