In recent years greater attention has been given to the growth rates of various monetary aggregates as measures of the influence of stabilization actions on economic activity. Four of the most frequently discussed aggregates are the money stock (private demand deposits plus currency held by the public), money plus time deposits, bank credit (total loans and investments of commercial banks), and the monetary base. This note discusses briefly the principal factors influencing the growth of these aggregates over time and cites special considerations analysts must keep in mind in deriving conclusions from observed changes in the growth of these aggregates.