The M2 position in October 2022 was recorded at Rp8,222.2 trillion, or growing 9.8% (yoy), after expanding 9.1% (yoy) in September 2022.
"The development of M2 in the reporting period was driven by narrow money (M1) growth of 14.9% (yoy)," BI Communication Department Executive Director Erwin Haryono said in a media release on Wednesday.
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"M2 growth in October 2022 was mainly driven by the expansion of disbursed loans," he stated.
In October 2022, disbursed loans grew 11.7% (yoy), after growing 10.8% (yoy) the month earlier primarily supported by productive (investment) loan disbursements.
Meanwhile, net claims on central government contracted 16.8% (yoy) after contracting 32.5% (yoy) in September 2022.
Net Foreign Assets (NFA) in October 2022 experienced a 3.8% (yoy) contraction, after contracting 5.3% (yoy) the month earlier.