FX.co ★ Indonesia’s M2 Growth Edges Up to 8.3% in September, Extending Liquidity Expansion

Indonesia’s broad money supply (M2) growth ticked higher in September 2026, with the year-over-year rate rising to 8.30%, up slightly from 8.20% in August 2026. The data, updated on 23 October 2026, indicate a modest acceleration in liquidity conditions in the Indonesian economy.

Both the current and previous readings are based on year-over-year comparisons, measuring how M2 in each month changed relative to the same month a year earlier. The move from 8.20% in August to 8.30% in September suggests that monetary aggregates are continuing to expand at a steady pace, with only a marginal pickup in growth momentum.

For market participants and policymakers, the gradual increase in M2 growth may be watched closely as a gauge of underlying credit dynamics and potential future pressures on inflation and asset prices, even though the shift between August and September remains limited in scale.