As a measure of liquidity in the economy, broad money continued to record positive growth in
April 2026. The M2 Position in April 2026 reached Rp10,253.7 trillion, representing a growth of
9.2% (yoy), following a growth of 9.7% (yoy) in the March 2026. By component, the latest M2
developments were driven by growth of narrow money (M1) at 13.6% (yoy) and quasi-money at
4.7% (yoy).
M2 developments in April 2026 were primarily influenced by net claims on central government
(NCG) and disbursed loans. NCG in the reporting period posted 38.6% (yoy) growth, following
growth of 39.1% (yoy) in March 2026. Disbursed loans in April 2026 grew by 9.4% (yoy), up from
8.9% (yoy) in March 2026.1
Adjusted base money (M0)2 grew by 14.3% (yoy) in April 2026 from 16.8% (yoy) the month
earlier, thus recorded at Rp2,232.2 trillion. This was influenced by the growth of adjusted
commercial bank demand deposits at BI3 recorded at 21.6% (yoy) and currency in circulation at
14.6% (yoy). Based on the affecting factors, growth of adjusted M0 has already isolated the impact
of providing liquidity incentives (adjusted monetary controls).
