MONEY supply growth eased in September amid faster bank lending, the Bangko Sentral ng Pilipinas (BSP) reported. “The overall pace of growth in M3 remains in line with the BSP’s prevailing outlook for inflation and economic activity,” the central bank said. Lending acceleratesBank lending growth, meanwhile, accelerated to 21.1 percent from August’s 20.4 percent. Including reverse repurchase placements (RRPs) with the central bank, lending growth increased by 20.1 percent from 17.9 percent in the previous month. “Bank lending to other sectors also increased during the month except in public administration, defense and compulsory social security, which declined by 0.8 percent,” the central bank said.

Source: Manila Times October 31, 2017 17:26 UTC