monetary circulation base

基本解释

Mr. Laffer seems panicked by a rapid rise in the monetary base, the sum of currency in circulation and the reserves of banks.
拉弗先生对于基础货币（流通中货币的总量和银行的储备金）的快速上升似乎是惊慌失措的。
hkyyls.blog.163.com
The monetary base includes currency in circulation, while the circulation of the currency is something familiar to the public, and we deal with it every day.
货币基础包括流通中的货币，而货币的发行量是公众所熟悉的东西，我们每天都会接触它。

That is what it is now doing: Japan's monetary base (currency in circulation and banks' reserves at the Bank of Japan) grew by 23% in the year to January.
ECONOMIST: The yen
And if central bankers sought to control money, however defined, by targeting the monetary base—cash in circulation and commercial-bank reserves held with the central bank—they lost control of the short-term interest rate, which might move erratically and damage the economy.
ECONOMIST: Economics focus
Critics might fret that the recent slowdown in the growth in Japan's monetary base (banks' reserves at the central bank plus notes and coins in circulation) suggests that the Bank of Japan has tightened policy.
ECONOMIST: Taking the porridge test