Economic liquidity, as reflected in broad money (M2), continued to record positive growth in February 2026. The M2 position in February 2026 reached Rp10,089.9 trillion, representing a growth of 8.7% (yoy), following a growth of 10.0% (yoy) in January 2026. By component, the latest M2 developments were driven by growth of narrow money (M1) at 14.4% (yoy) and quasi-money at 3.1% (yoy).

In terms of its affecting factors, M2 developments in February 2026 were primarily influenced by net claims on central government (NCG) and disbursed loans. NCG in the reporting period posted 25.6% (yoy) growth, accelerating from 22.6% (yoy) one month earlier. Meanwhile, growth of disbursed loans in February 2026 continuing the growth to 8.9% (yoy) from 10.2% (yoy) in January 2026.¹

​Adjusted base money (M0)² growth in February 2026 accelerated to 18.3% (yoy) from 14.7% (yoy) the month earlier, thus recorded at Rp2,227.7 trillion. This was influenced by the growth of adjusted commercial bank demand deposits at BI³ recorded at 33.6% (yoy) and currency in circulation at 15.8% (yoy). Based on the affecting factors, growth of adjusted M0 has already isolated the impact of providing liquidity incentives (adjusted monetary controls).