The country’s money supply and bank lending both expanded in September, but at a moderate pace, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday. In a statement, the central bank said domestic liquidity (M3) picked up by 12.3 percent year-on-year to P13.5 trillion in the ninth month, slower than the revised 13.7 percent in August. Domestic claims climbed by 8.2 percent year-on-year in September from the revised 10 percent the month before. Expansion in bank lending decelerated to 2.8 percent in the ninth month from 4.7 percent amonth earlier. Lending for production activities widened by 2.4 percent, also slower than August’s revised 4.1-percent rise, it said, as loans across most sectors decelerated during the month.

Source: Manila Times November 11, 2020 16:41 UTC