Broad Money Growth Accelerates in February: BI

    Wahyu Dwi Anggoro - 08 April 2020 11:59 WIB
    Broad Money Growth Accelerates in February: BI
    Illustration ( Rizal)
    Jakarta: Broad money, as a measure of liquidity in the economy, achieved another period of faster growth in February 2020. 

    Totalling Rp6,116.5 trillion in February 2020, M2 growth accelerated to 7.9 percent (yoy) from 7.1 percent (yoy) the month earlier.

    "Boosted by all components, namely narrow money (M1), quasi-money and securities other than shares," Bank Indonesia said in a press release on Wednesday, April 8, 2020. 

    "M1 growth increased from 7.9 percent (yoy) in January 2020 to 8.6 percent (yoy) in the reporting period," the central bank stated. 

    Furthermore, growth of quasi-money improved from 6.8 percent (yoy) in January 2020 to 7.5 percent (yoy). Mirroring that trend, securities other than shares grew 34.7 percent (yoy) in the reporting period, up from 31.8 percent (yoy) in January 2020.

    Based on the affecting factors, expansive fiscal operations prompted the M2 gain in February 2020, as reflected by a significant increase in net claims on the central government to 11.9 percent (yoy) from just 1.8 percent (yoy) one month earlier.  Meanwhile, growth of outstanding loans disbursed by the banking industry continued to trend lower, namely from 5.7 percent (yoy) in January 2020 to 5.5 percent(yoy). 

    "On the other hand, Net Foreign Assets (NFA) posted stable 9.9 percent (yoy) growth in February 2020," it stated.


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