​As a measure of liquidity in the economy, Broad Money (M2) growth accelerated in May 2024. The position stood at Rp8,965.9 trillion in May 2024, with higher growth of 7.6% (yoy) compared with 6.9% (yoy) the month earlier. Narrow Money (M1) and Quasi-Money were the main contributors to M2 developments in the reporting period, posting 6.3% (yoy) and 8.8% (yoy) growth, respectively.

Based on the affecting ​factors, M2 growth in May 2024 was primarily influenced by disbursed loans and Net Foreign Assets (NFA). Disbursed loans in May 2024 grew 11.4% (yoy) after growing 12.3% (yoy) the month earlier. Net Foreign Assets (NFA) grew 0.6% (yoy), improving from a 1.1% (yoy) contraction the month earlier. Meanwhile, Net Claims on Central Government (NCG) grew 22.7% (yoy) in May 2024 after growing 25.8% (yoy) in April 2024.