No.24/319/DKom
The growth of broad money (M2), as a measure of liquidity in the economy, accelerated in October 2022. The M2 position in October 2022 was recorded at Rp8,222.2 trillion, or growing 9.8% (yoy), after expanding 9.1% (yoy) in September 2022. The development of M2 in the reporting period was driven by narrow money (M1)[1] growth of 14.9% (yoy).
M2 growth in October 2022 was mainly driven by the expansion of disbursed loans[2]. In October 2022, disbursed loans grew 11.7% (yoy), after growing 10.8% (yoy) the month earlier primarily supported by productive (investment) loan disbursements. Meanwhile, net claims on central government contracted 16.8% (yoy) after contracting 32.5% (yoy) in September 2022. Net Foreign Assets (NFA) in October 2022 experienced a 3.8% (yoy) contraction, after contracting 5.3% (yoy) the month earlier.
More information on statistics concerning money supply as well as relevant analyses are accessible via this link.
Jakarta, 30st November 2022
Communication Department
Erwin Haryono
Executive Director
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
[1]Since the September 2021 position, M1 comprises currency outside banks (COB), rupiah demand deposits and rupiah saving deposits that can be withdrawn at any time. Further explanation concerning the recent reclassification is available in Broad Money and Affecting Factors, August 2021.
[2]Disbursed loans are limited to loans and exclude loan-type financial instruments, such as debt securities, banker's acceptances and repo claims. In addition, disbursed loans also exclude loans disbursed by offshore branches of locally incorporated commercial banks as well as loans allocated to the central government and non-residents.
