MANILA, Philippines — Less money circulated in the economy in November while lending expanded at a slower rate, the Bangko Sentral ng Pilipinas reported on Friday. “The growth in M3 remains broadly consistent with the BSP’s prevailing outlook for inflation and economic activity,” the central bank said. Credit growth slipsBanks handed out fewer loans in November as credit grew at a slower rate, the BSP said in a separate statement also on Friday. Bank lending growth decelerated to 19.2 percent in November from 19.9 percent in October. Looking ahead, the BSP said it will continue to ensure that the expansion in domestic credit and liquidity conditions proceeds in line with overall economic growth.

Source: Philippine Star December 29, 2017 10:18 UTC