As a measure of liquidity in the economy, Broad Money (M2) maintained growth in July 2024. The position stood at Rp8,970.8 trillion in July 2024, with growth of 7.4% (yoy) after growing 7.7% (yoy) the month earlier. Narrow Money (M1) and Quasi-Money were the main contributors to M2 developments in the reporting period, posting 6.3% (yoy) and 7.2% (yoy) growth, respectively.

Based on the affecting factors, M2 growth in July 2024 was primarily influenced by disbursed loans and net claims on central government (NCG). Disbursed loans in July 2024 grew 11.6% (yoy), up from 11.4% (yoy) the month earlier. Net Claims on Central Government (NCG) grew 15.8% (yoy) in July 2024, accelerating from 14.1% (yoy) in June 2024. Meanwhile, Net Foreign Assets (NFA) in July 2024 contracted 0.1% (yoy), after growing 3.1% (yoy) in June 2024.