TEMPO.CO, Jakarta – Bank Indonesia (BI) recorded broad money supply (M2) at Rp10,415 trillion in May 2026, marking an annual growth of 10.8 percent, higher than the 9.2 percent year-on-year increase recorded in April 2026.
"The development of M2 in May 2026 was mainly influenced by credit distribution and net foreign assets," BI Executive Director of the Communication Department Ramdan Denny Prakoso said in an official statement on Tuesday, June 23, 2026.
Credit distribution reached Rp8,759 trillion in May, growing 10.8 percent year-on-year. Meanwhile, net foreign assets rose 5.2 percent year-on-year to Rp2,056 trillion.
By component, M2 growth was primarily supported by narrow money (M1), which accounted for 57.8 percent of total M2. M1 increased 15.3 percent year-on-year to Rp6,025 trillion in May 2026.
The increase in M1 was driven by growth in rupiah demand deposits, which rose 23.9 percent year-on-year, up from 21.3 percent growth in April 2026.
Quasi-money also contributed to M2 growth, accounting for 41.5 percent of total M2. In May 2026, quasi-money grew 6.0 percent year-on-year to Rp4,319 trillion, supported by a 10.5 percent increase in foreign currency demand deposits and 22.2 percent growth in other savings.
Meanwhile, adjusted narrow money (M0) grew 14.2 percent year-on-year in May to Rp2,214 trillion, slightly below the 14.3 percent annual growth recorded in April.
"Based on the factors influencing it, the growth of adjusted M0 has taken into account the impact of liquidity incentive provision (adjusted monetary control)," BI said in its report.
Read: What Happens if Finance Ministry, BI Become IDX Shareholders?
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