11 months M3, lending growth eases in January Manilatimes |Biz
Money supply growth moderated in January as bank lending decelerated for the third straight month, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday. Domestic liquidity or M3 expanded by 7.6 percent year-on-year to P11.40 trillion, slower than December’s 9.2 percent. Month-on-month and seasonally adjusted, M3 grew by 0.6 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 also decelerated to 12.2 percent in January from December’s 14.6 percent, “due mainly to the sustained ... more