Indonesia’s Broad Money Supply Hits Rp 10,588 Trillion in September
Jakarta. Indonesia’s broad money supply grew 8.3% year-on-year (yoy) to Rp 10,587.9 trillion ($585.41 billion) in September 2026, accelerating from 8.2% in August as net claims on the central government and foreign assets rebounded.
“Broad money (M2), which reflects economic liquidity, grew faster in September 2026,” Bank Indonesia (BI) Executive Director of Communications Department Ramdan Denny Prakoso said in a statement on Friday.
The increase was supported by growth in narrow money (M1), which rose 9.0% yoy, and quasi-money, which expanded 7.3%.
By contributing factors, net claims on the central government grew 24.4% yoy in September, reversing a 7.0% contraction in August. Net foreign assets also returned to growth, rising 1.0% after contracting 6.6% in the previous month.
Credit growth, however, moderated to 12.7% yoy from 13.3% in August.
BI's credit indicator covers loans but excludes loan-like financial instruments such as debt securities, bankers' acceptances and repo claims. It also excludes credit extended by commercial bank offices located overseas, as well as loans to the central government and nonresidents.
Separately, BI reported that adjusted reserve money (M0) grew 9.3% yoy to Rp 2,353.1 trillion in September, slowing sharply from 16.3% in August.
The M0 growth was supported by an 11.8% increase in currency in circulation and 3.9% growth in adjusted commercial bank deposits at BI.
BI said the adjusted M0 measure accounts for the impact of liquidity incentives provided under its adjusted monetary control framework.
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