summarize the Econ article and show how different is money creation process explained by the Bank of England, the central bank of the United Kingdom

Between the two monetary system pay attention to the following differences in naming the measures of money:

 

M0 in the British system is what we call B the monetary base in the US which is equal to currency+ Reserves.

 

What we call M0   in the US Currency+ deposits is called MZM in the UK.

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