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English definition of “currency deflation”

currency deflation

noun [U]    
ECONOMICS a situation in which less money becomes available without a drop in production, causing prices to fall, production to slow down, and people to lose their jobs: Without proper honest controls, society suffers continual currency deflation and inflation. → See also currency inflation, deflation, price deflation
(Definition of currency deflation noun from the Cambridge Business English Dictionary © Cambridge University Press)
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