monetary
/ˈmɒn.ɪ.tər.i/Relating to money, especially the supply and value of money in a country's economy. It often describes systems, policies, or official matters controlled by banks or governments.
- The central bank announced a new monetary policy to reduce inflation.
- There is no monetary reward for completing the survey.
- The monetary value of gold has risen sharply this year.
Adinary Nuance
Monetary is often confused with financial and fiscal, but each covers a different area. Monetary specifically refers to money as currency — its supply, value, and circulation — and is most at home in phrases like "monetary policy" (controlled by central banks). Financial is broader: it covers any activity involving money, including investments, loans, and personal budgeting — so you say "financial advice," not "monetary advice." Fiscal is narrower in a different direction: it refers to government taxes and spending (e.g., "fiscal deficit"), not to currency itself. In IELTS and academic writing, using these three words precisely signals a strong command of economic vocabulary.
In other languages
- Vietnamese
- thuộc tiền tệ
- Spanish
- monetario
- Chinese
- 货币的
- Japanese
- 通貨の
- Korean
- 통화의
Etymology
From Latin "monetarius," meaning "of a mint" or "of money," derived from "moneta" — a title of the Roman goddess Juno, in whose temple coins were minted. The word entered English in the early 19th century through French "monétaire."
Common phrases
Synonyms
Related words
Frequently asked questions
- What is the difference between monetary and financial?
- 'Monetary' specifically relates to currency and money supply — it's used in economics and policy contexts (e.g., 'monetary policy'). 'Financial' is broader and applies to any money-related matter, including personal finance, loans, and investments (e.g., 'financial advice', 'financial crisis').
- What is the difference between monetary and fiscal?
- 'Monetary' refers to the management of a country's money supply and interest rates, usually by a central bank. 'Fiscal' refers to government decisions about taxes and public spending. Both are important in economics, but they describe different tools.
- Is 'monetary' a formal word?
- Yes, 'monetary' is formal and appears most often in academic writing, economics, journalism, and policy documents. In everyday conversation, people more often say 'money-related' or 'financial' instead.
- Can 'monetary' refer to personal money, like a salary?
- It can, but it sounds formal in personal contexts. You might say 'monetary compensation' in a contract or HR document. In casual conversation, 'financial' or simply 'money' sounds more natural.