Interest Rates•Series ID: DGFAM312•1977–2026
M3 Money Supply Growth - Historical Data
M3 comprises currency in circulation plus all bank deposits of the private non-bank sector.
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Current Statistics & Historical Records
Latest Reading (Aug 2026)
6.8%
Prev (Jul 2026): 7.5%-0.7 pp
Highest Recorded (Aug 1989)
24.2%
Recorded in Aug 1989
Lowest Recorded (Jun 2018)
1.8%
Recorded in Jun 2018
Long-Run Mean (1977–2026)
9.5%
50 annual observations · Monthly
M3 Money Supply Growth - Historical Series (1977–2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full annual history (1977–2026) and recent monthly releases.
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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (DGFAM312) Latest: 6.8 % p.a. (Aug 2026)
M3 Money Supply Growth by Decade (1977–2026)
Decade averages, peaks, and troughs across Australian economic cycles
1970s1977–1979
11.1%
High (1979):13.1%
Low (1977):9.7%
1980s1980–1989
13.5%
High (1989):20.9%
Low (1986):10.4%
1990s1990–1999
7.6%
High (1990):12.6%
Low (1992):3.4%
2000s2000–2009
11.7%
High (2008):18.3%
Low (2000):7.2%
2010s2010–2019
6.3%
High (2011):9.2%
Low (2018):2.6%
2020s2020–2026
7.4%
High (2020):9.6%
Low (2023):5.3%
M3 Money Supply Growth - Historical Table (1977–2026)
Unit: % p.a. · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (DGFAM312)
| Year | M3 Money Supply (% p.a.) | Year Range (Low – High) | Historical Context / Year Snapshot |
|---|---|---|---|
| 2026 | 7.7% | 6.8% – 8.3% | The Australian Economy in 2026 → |
| 2025 | 6.3% | 5.0% – 7.2% | Disinflation & monetary policy recalibration |
| 2024 | 5.4% | 4.6% – 6.2% | The Australian Economy in 2024 → |
| 2023 | 5.3% | 4.0% – 7.1% | The Australian Economy in 2023 → |
| 2022 | 8.6% | 6.3% – 10.2% | Post-pandemic inflation surge & rapid RBA tightening cycle |
| 2021 | 8.8% | 7.0% – 12.7% | The Australian Economy in 2021 → |
| 2020 | 9.6% | 3.9% – 12.6% | COVID-19 pandemic shock & 0.10% cash rate floor |
| 2019 | 3.8% | 2.8% – 4.2% | The Australian Economy in 2019 → |
| 2018 | 2.6% | 1.8% – 4.4% | The Australian Economy in 2018 → |
| 2017 | 6.7% | 4.7% – 7.7% | The Australian Economy in 2017 → |
| 2016 | 6.1% | 5.6% – 7.0% | The Australian Economy in 2016 → |
| 2015 | 6.8% | 6.0% – 7.6% | The Australian Economy in 2015 → |
| 2014 | 7.2% | 6.5% – 8.1% | The Australian Economy in 2014 → |
| 2013 | 6.6% | 5.8% – 7.3% | The Australian Economy in 2013 → |
| 2012 | 8.0% | 7.2% – 9.3% | The Australian Economy in 2012 → |
| 2011 | 9.2% | 8.0% – 10.1% | China mining investment & Terms of Trade supercycle peak |
| 2010 | 5.8% | 4.1% – 9.7% | The Australian Economy in 2010 → |
| 2009 | 11.1% | 5.7% – 14.2% | The Australian Economy in 2009 → |
| 2008 | 18.3% | 13.1% – 23.4% | Global Financial Crisis (GFC) & emergency rate cuts |
| 2007 | 17.1% | 12.8% – 22.9% | The Australian Economy in 2007 → |
| 2006 | 10.6% | 8.0% – 13.0% | The Australian Economy in 2006 → |
| 2005 | 8.4% | 7.1% – 9.8% | The Australian Economy in 2005 → |
| 2004 | 11.4% | 9.2% – 13.4% | The Australian Economy in 2004 → |
| 2003 | 12.0% | 10.3% – 13.6% | The Australian Economy in 2003 → |
| 2002 | 12.4% | 10.1% – 14.5% | The Australian Economy in 2002 → |
| 2001 | 8.8% | 6.2% – 14.0% | The Australian Economy in 2001 → |
| 2000 | 7.2% | 5.3% – 8.6% | Introduction of the 10% Goods and Services Tax (GST) |
| 1999 | 9.0% | 7.7% – 10.1% | The Australian Economy in 1999 → |
| 1998 | 6.5% | 5.4% – 7.5% | The Australian Economy in 1998 → |
| 1997 | 9.0% | 7.3% – 10.7% | The Australian Economy in 1997 → |
| 1996 | 9.2% | 8.2% – 10.0% | The Australian Economy in 1996 → |
| 1995 | 7.8% | 7.0% – 8.5% | The Australian Economy in 1995 → |
| 1994 | 8.1% | 6.4% – 9.6% | The Australian Economy in 1994 → |
| 1993 | 5.6% | 4.7% – 6.3% | RBA formalises 2–3% inflation targeting |
| 1992 | 3.4% | 2.5% – 4.2% | The Australian Economy in 1992 → |
| 1991 | 5.1% | 2.1% – 8.6% | Early 1990s recession ("The recession we had to have") |
| 1990 | 12.6% | 9.6% – 17.1% | Monetary tightening peak (17.5% Cash Rate) |
| 1989 | 20.9% | 17.8% – 24.2% | The Australian Economy in 1989 → |
| 1988 | 13.1% | 11.5% – 16.6% | The Australian Economy in 1988 → |
| 1987 | 10.6% | 8.1% – 13.5% | October 1987 sharemarket crash |
| 1986 | 10.4% | 8.0% – 12.5% | The Australian Economy in 1986 → |
| 1985 | 15.7% | 14.2% – 17.1% | The Australian Economy in 1985 → |
| 1984 | 13.6% | 12.5% – 15.1% | The Australian Economy in 1984 → |
| 1983 | 13.0% | 11.1% – 14.4% | Float of the Australian Dollar & Prices and Incomes Accord |
| 1982 | 11.3% | 10.5% – 12.3% | Early 1980s recession & drought |
| 1981 | 12.5% | 11.2% – 13.4% | The Australian Economy in 1981 → |
| 1980 | 13.8% | 12.7% – 14.5% | The Australian Economy in 1980 → |
| 1979 | 13.1% | 12.2% – 13.9% | The Australian Economy in 1979 → |
| 1978 | 10.4% | 7.9% – 12.6% | The Australian Economy in 1978 → |
| 1977 | 9.7% | 8.6% – 10.9% | The Australian Economy in 1977 → |
Related Australian Economic Statistics
Source Information & Methodology
- Primary Institution:
- Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
- Dataset / Publication:
- Growth in Selected Financial Aggregates - M3 12-Month Ended
- Series / Table ID:
- RBA Statistical Table D1 (DGFAM312)
- Release Frequency:
- Monthly
• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Growth in Selected Financial Aggregates - M3 12-Month Ended (RBA Statistical Table D1).
• Observation frequency: Monthly. Annual table values represent calendar year averages.
• Series coverage spans 1977 to 2026 (50 annual observations).
APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Growth in Selected Financial Aggregates - M3 12-Month Ended (D1: DGFAM312). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/
Frequently Asked Questions: M3 Money Supply Growth
- What is the current M3 Money Supply Growth?
- As of Aug 2026, the latest recorded M3 Money Supply Growth is 6.8 (% p.a.), compared with 7.5 in Jul 2026.
- What is the highest and lowest M3 Money Supply Growth ever recorded in Australia?
- Across the historical series (1977–2026), the highest observation was 24.2 (% p.a.) in Aug 1989, while the lowest was 1.8 (% p.a.) in Jun 2018. The long-run historical average is 9.5.
- Where is the official M3 Money Supply Growth data sourced from?
- This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Growth in Selected Financial Aggregates - M3 12-Month Ended, Series ID: DGFAM312) and is updated on a monthly basis under CC BY 4.0 International / RBA Terms.