As a measure of liquidity in the economy, growth of broad money (M2) accelerated in July 2025. M2 growth reached 6.5% (yoy) in July 2025, up from 6.4% (yoy) in June 2025, amounting to Rp9,569.7 trillion. The M2 developments were driven by growth of narrow money (M1) at 8.7% (yoy) and quasi-money at 4.8% (yoy).

M2 developments in July 2025 were primarily influenced by Net Foreign Assets (NFA) and Net Claims on Central Government (NCG). NFA in July 2025 grew by 7.3% (yoy) increasing from 3.9% (yoy) in the previous period, recorded at Rp2,004.1 trillion. NCG in July 2025 experienced a shallower 6.2% (yoy) contraction following an 8.2% (yoy) contraction in June 2025. Meanwhile, disbursed loans grew 6.6% (yoy) in July 2025 after increasing by 7.6% (yoy) the month earlier.