As a measure of liquidity in the economy, broad money growth accelerated in November 2025. The M2 position in November 2025 was recorded at Rp9,891.6 trillion, as growth accelerated to 8.3% (yoy) from 7.7% (yoy) in October 2025. By component, the latest M2 developments were driven by growth of narrow money (M1) at 11.4% (yoy) and quasi-money at 5.9% (yoy).

M2 developments^[1] in November 2025 were primarily influenced by net claims on central government (NCG) and disbursed loans. NCG in the reporting period posted 8.7% (yoy) growth after increasing by 5.4% (yoy) one month earlier. Meanwhile, growth of disbursed loans in November 2025 accelerated to 7.9% (yoy) from 7.0% (yoy) in October 2025.^[2] On the other hand, Net Foreign Assets (NFA) recorded 9.7% (yoy) growth in November 2025, following a 10.4% (yoy) increase the month earlier.

More information on statistics concerning broad money as well as relevant analyses are accessible via this link​.

Jakarta, 22th December 2025
Communication Department
Ramdan Denny Prakoso
Executive Director

^[1] Adjusted Base Money (Adjusted M0) development can be read at the following link.

^[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. ​