Global monetary expansion is gathering pace, with 2026 poised to see a significant increase in what experts define as “money printing”-the inflationary money circulating within the real economy [[3]]. Following years of unprecedented stimulus measures, including those implemented during the Covid-19 pandemic, a new wave of fiscal spending planned across major economies is raising concerns among investors and policymakers about potential inflationary pressures and asset valuations. While global GDP is expected to grow at a solid pace of 2.8% in 2026 [[2]], the surge in money supply warrants close observation as inflation remains a key concern globally [[1]].
Global money printing is accelerating, and 2026 is shaping up to be an even more active year.
“Money printing” in this context refers to the real economy and inflationary money – the money we spend daily, primarily bank deposits held by households and corporations – and not other liquidity indicators, according to reports.
2025 is poised to be one of the strongest years for global money printing, trailing only 2017 and 2020. This surge in monetary expansion often correlates with increased asset prices and potential inflationary pressures.
The large global fiscal stimulus enacted in 2020 to shield economies from a Covid-19 induced depression is well-documented. That year saw unprecedented levels of government spending and central bank intervention.
In 2017, a globally coordinated increase in money printing, led by China, and low interest rates fueled mortgage lending and private sector debt. The result was robust economic growth worldwide, with even Europe achieving over 3% GDP growth that year.
The machinery of money creation remains active, contributing to sustained nominal growth – often accompanied by inflation that has remained above target for many economies – and a sharp rise in asset values. This trend is closely watched by investors and policymakers alike.
Looking ahead to 2026, the situation is expected to intensify due to substantial fiscal packages planned in the United States, Germany, South Korea, Sweden, Japan, and Australia. Several other nations are also expected to participate in increased spending.
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