​No. 23/178/DKom

Broad money (M2), as a measure of Liquidity in the economy, recorded faster growth in June 2021 compared with conditions one month earlier. Totalling Rp7,119.6 trillion, M2 growth accelerated to 11.4% (yoy) in the reporting period from 8.1% (yoy) in May 2021, boosted by narrow money (M1) and quasi-money. A faster 17.0% (yoy) pace of M1 growth was recorded in June 2021, up from 12.6% (yoy) in the previous period, while quasi-money increased to 9.6% (yoy) in June 2021 from 6.8% (yoy) in May 2021.

Based the affecting factors, Net Foreign Assets (NFA) and stronger bank intermediation were the main drivers of M2 growth in June 2021. NFA growth in June 2021 accelerated to 11.5% (yoy) from 6.4% (yoy) in May 2021. Meanwhile, after contracting since September 2020, outstanding loans disbursed[1] by the banking industry charged into positive territory in June 2021 at 0.4% (yoy). On the other hand, net claims on the central government moderated from 61.4% (yoy) to 33.9% (yoy) in June 2021.

Complete information and statistics concerning money supply as well as relevant analyses are available here.

Tel. 021-131, Email: bicara@bi.go.id

[1] Disbursed loans are limited to loans and exclude financial instruments marketed with loans, such as debt securities, banker's acceptances and repo claims.  In addition, disbursed loans also exclude loans extended to offshore branches of locally incorporated commercial banks as well as loans allocated to the central government and non-residents.