As a measure of liquidity in the economy, Broad Money (M2) maintained growth in August 2024. The position stood at Rp8,973.7 trillion in August 2024, with growth of 7.3% (yoy), lower than the 7.6% (yoy) growth posted one month earlier. Narrow Money (M1) and Quasi-Money were the main contributors to M2 developments in the reporting period, recording 7.0% (yoy) and 5.6% (yoy) growth, respectively.
Based on the affecting factors, M2 growth in August 2024 was primarily influenced by disbursed loans and Net Foreign Assets (NFA). Disbursed loans[1] in August 2024 grew 10.9% (yoy), down from 11.7% (yoy) the month earlier. Net Claims on Central Government (NCG) grew 12.5% (yoy) in August 2024, decelerating from 15.9% (yoy) in July 2024. Meanwhile, Net Foreign Assets (NFA) in August 2024 contracted 1.1% (yoy), after declining 0.1% (yoy) in July 2024.