As a measure of liquidity in the economy, Broad Money (M2) growth accelerated in November 2024. The position stood at Rp9,175.8 trillion in November 2024, with higher growth of 7.0% (yoy) compared to 6.8% (yoy) in the previous month. The development was mainly driven by the growth of narrow money (M1) and quasi-money at 9.1% (yoy) and 2.3% (yoy), respectively.

Based on the affecting factors, M2 growth in November 2024 was primarily influenced by disbursed loans and net claims on central government (NCG). Disbursed loans^[1] in November 2024 maintained relatively stable growth of 10.1% (yoy) compared with the previous month. Meanwhile, net claims on central government (NCG) grew 1.1% (yoy) in November 2024 after contracting 0.1% (yoy) the month earlier. On the other hand, net foreign assets (NFA) grew 1.0% (yoy), after growing 1.6% (yoy) in October 2024.