No. 27/41/DKom
As a measure of liquidity in the economy, broad money (M2) growth accelerated in January 2025. The M2 position stood at Rp9,232.8 trillion in January 2025, with growth accelerating to 5.9% (yoy) from 4.8% (yoy) the month earlier. The development was driven by growth of narrow money (M1) and quasi-money at 7.2% (yoy) and 2.2% (yoy), respectively.
Based on the affecting factors, M2 growth in January 2025 was primarily influenced by disbursed loans and net foreign assets (NFA). Disbursed loans in January 2025 recorded a relatively stable growth of 9.6% (yoy) compared to 9.7% (yoy) .[1] Meanwhile, NFA in January 2025 increased by 2.4% (yoy), accelerating from 0.8% (yoy) the month earlier. On the other hand, net claims on central government (NCG) contracted by 14.3% (yoy) in January 2025 after declining 17.5% (yoy) the month earlier.
More information on statistics concerning broad money as well as relevant analyses are accessible via this link.
Jakarta 3rd March 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
[1] 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.
