Bank Indonesia (BI) recorded broad money supply (M2) in January 2021 at Rp 6,761 trillion, a year-on-year (yoy) growth of 11.08%. However, the M2 growth in January 2021 was lower than the previous month's 12.4%.
This slowdown was due to quasi-money growth of only 9.7%, lower than the previous month's 10.5%.
Meanwhile, the narrow money supply (M1) grew by 18.7% (yoy) in January 2021, up from 18.5% in December 2020.
Based on influencing factors, the slowdown in M2 growth coincided with a slowdown in net claims on the central government. The growth of net claims on the central government was 54.08% (yoy) in January 2021, down from 66.09% the previous month.
Furthermore, credit growth was recorded at -2.1% in January 2021, an improvement compared to the previous month's -2.7%. Net foreign asset growth also improved to 14.9% in January 2021, higher than December 2020's 13.6%.