As a measure of liquidity in the economy, broad money (M2) growth accelerated in February 2025. The M2 position stood at Rp9,239.9 trillion in February 2025, with growth accelerating to 5.7% (yoy) from 5.5% (yoy) the month earlier. The development was driven by growth of narrow money (M1) and quasi-money at 7.4% (yoy) and 1.8% (yoy), respectively.

Based on the affecting factors, M2 growth in February 2025 was primarily influenced by disbursed loans and net foreign assets (NFA). Disbursed loans in February 2025 recorded at 9.0% (yoy) growth, relatively stable compared to previous month.^[1] NFA in February 2025 increased by 4.1% (yoy), accelerating from 2.4% (yoy) the month prior. On the other hand, net claims on central government (NCG) contracted by 5.7% (yoy) in February 2025 after declining 14.1% (yoy) the month earlier.