Broad money supply (M2) grew by 4.9% YoY to IDR 9,490.0 trillion in May 2025, albeit slower than 5.2% YoY in April 2025. By component, M2 money growth was driven by narrow money supply (M1) growth of 6.3% YoY and quasi-money growth of 1.5% YoY in May 2025. M2 money growth was supported by M1 money supply growth of 55.5%, comprising currency outside commercial banks’ growth of 10.7% YoY and rural banks, as well as rupiah demand deposits, which included electronic money growth of 17.4% YoY and withdrawable rupiah savings growth of 4.3% YoY in May 2025. Meanwhile, on a monthly basis, the M2 money supply increased slightly by 0.19% MoM (Figure 1), in line with the relatively long holidays from Vesak Day and collective leave.