Broad money supply (M2) growth slowed to 5.2% YoY, reaching Rp9,390.0 trillion in April 2025, down from 6.1% YoY in May 2025. By component, M2 growth was driven by narrow money (M1) growth of 6.0% YoY and quasi-money growth of 2.4% YoY in March 2025. M2 growth was supported by M1 growth of 55.6%, consisting of 8.7% MoM growth in currency outside commercial banks and rural banks and 5.9% MoM growth in rupiah demand deposits, including electronic money and rupiah savings that can be withdrawn at any time, in April 2025. Meanwhile, on a monthly basis, M2 experienced a slight decrease of 0.49% MoM (Figure 1), in line with declining inflation in April 2025 following the normalization after the Religious Holiday (HBKN) was Hari Raya Idul Fitri.