Money supply growth accelerates amid slower bank lending in November
Credit to Author: The Manila Times| Date: Tue, 08 Jan 2019 08:41:36 +0000
MONEY supply growth accelerated in November despite slower bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.
Domestic liquidity or M3 expanded by 8.4 percent year-on-year to P11.250 trillion, faster than October’s revised 8.3 percent.
Month-on-month and seasonally adjusted, M3 growth increased by 0.5 percent.
Bank lending growth, meanwhile, decelerated to 16.8 percent in November from October’s revised 18.1 percent.
Reverse repurchase placements (RRPs) with the BSP also moderated to 15.4 percent from the previous month’s revised 17.9 percent.
On a month-on-month seasonally-adjusted basis, commercial bank loans net of RRPs increased by 0.3 percent while loans inclusive of RRPs declined by 0.1 percent. MAYVELIN U. CARABALLO
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