However, it is important to remember that even though today's money stock primarily consists of deposits in bank accounts, it is not possible to  Side 8 af 9  create more money than households and firms want to hold.
In other words, the total amount of money in society – both banknotes and coins in circulation as well as bank deposits – depends on demand. And by changing interest rates – and hence the cost of holding money – the money demand is, in the end of the day, determined by central banks' monetary policy.