M3 growth steady; bank lending slows

Jul 03, 2023 12:33 am

MONEY supply growth stayed steady in May, the Bangko Sentral ng Pilipinas (BSP) reported late on Friday, but bank lending expanded at a slower pace due to the impact of policy rate adjustments.

Preliminary data showed that domestic liquidity or M3 grew by 6.6 percent — unchanged from April — to about —16.3 trillion in May, the central bank said in a statement.

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