In
economics, the
monetary base (also
base money,
money base,
high-powered money,
reserve money,
outside money,
central bank money or, in the
UK,
narrow money) in a country is defined as the portion of the
commercial banks'
reserves that are maintained in accounts with their
central bank plus the total
currency circulating in the public (which includes the currency, also known as
vault cash, that is physically held in the
banks' vault).