As a measure of liquidity in the economy, broad money growth accelerated in May 2026. M2 growth in May 2026 accelerated to 10.8% (yoy) from 9.2% (yoy) in April 2026, thus reaching a position of Rp10,415.9 trillion. By component, the latest M2 developments were driven by growth of narrow money (M1) at 15.3% (yoy) and quasi-money at 6.0% (yoy).

M2 developments in May 2026 were primarily influenced by disbursed loans and net foreign assets (NFA). Disbursed loans in May 2026 grew by 10.8% (yoy), an increase compared to the growth in April 2026 of 9.4% (yoy). Meanwhile, NFA posted 5.2% (yoy) growth in the reporting period, accelerating from 3.7% (yoy) in April 2026.

Adjusted base money (M0) growth in May 2026 remain strong at 14.2% (yoy) from 14.3% (yoy) the month earlier, thus recorded at Rp2,214.6 trillion. This was influenced by the growth of adjusted commercial bank demand deposits at BI recorded at 17.4% (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).