Rate hikes weigh on M3, bank lending

Sep 01, 2023 12:33 am

MONEY supply and bank lending growth both slowed in June as the impact of policy rate adjustments continued to work its way through the economy, Bangko Sentral ng Pilipinas (BSP) data showed on Thursday.

Preliminary data showed that domestic liquidity or M3 expanded by 5.9 percent to about P16.4 trillion in June, slowing from May's 9.4 percent.

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