10 months M3 growth accelerates; lending slows Manilatimes |Biz
Money supply grew faster in December despite an easing in bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday. Domestic liquidity or M3 expanded by 9.2 percent year-on-year to P11.612 trillion, faster than November’s revised 8.5 percent. Month-on-month and seasonally adjusted, M3 growth decreased by 0.2 percent. “The BSP will continue to closely monitor domestic liquidity dynamics to ensure that overall monetary conditions remain in line with maintaining price and financial stability,” the central bank said in a statement. The expansion in domestic claims was steady at 14.6 percent, “due mainly to the sustained growth in credit to the private sector.“ ... more