No.23/310/DKom
As a measure of liquidity in the
economy, broad money (M2) growth accelerated faster in October 2021. Totalling Rp7,490.7 trillion, M2 growth
accelerated to 10.4% (yoy) in the reporting period from 8.2% (yoy) one month
earlier, primarily driven by 14.6% (yoy) growth of narrow money (M1)[1]
and 6.0% (yoy) growth of quasi-money.
Based on the affecting factors, Net
Foreign Assets (NFA) and Net Domestic Assets (NDA) were the main contributors
to faster M2 growth in October 2021. NFA growth increased to 5.7% (yoy)
from 5.0% (yoy) in September 2021, while NDA growth ticked upwards to 12.1%
(yoy) from 9.3% (yoy) in the reporting period in line with faster growth of net
claims on the central government and outstanding loans disbursed by the banking
industry. Net claims on the central government increased from 16.1% (yoy) in
September 2021 to 30.4% (yoy) in October 2021, while disbursed loans[2]
grew 3.0% (yoy), up from 2.1% (yoy) the month earlier.
More information and statistics
concerning money supply as well as relevant analyses are accessible via the link.
Jakarta, 30th November 2021
Head of Communication Department
Erwin Haryono
Executive Director
Information about 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 transferable rupiah savings
deposits. 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.
