THE local currency bond market expanded in the third quarter as issuances by the government and the Bangko Sentral ng Pilipinas (BSP) grew, the Asian Development Bank (ADB) noted in a November report on regional developments.
Outstanding central bank securities, in particular, were said to have grown by 44.8 percent quarter-on-quarter as the BSP moved to mop up the excess liquidity brought about by the lowering of reserve requirements and the expiration of pandemic-related relief measures.
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