M3 growth slows, bank lending up in Octoberhome/Business/Top Business/M3 growth slows, bank lending up in OctoberMoney supply growth slowed in October despite increased bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday. Domestic liquidity or M3 expanded by 8.2 percent year-on-year to P11.140 trillion, slower than September’s revised 9.8 percent. Bank lending growth, meanwhile, accelerated to 18.1 percent in October from September’s revised 17.6 percent. Including reverse repurchase placements (RRPs) with the BSP, growth picked up to 17.9 percent from the previous month’s revised 16.5 percent. Commercial bank lending for loans net of RRPs and loans inclusive of RRPs increased by 1.1 percent and 1.0 percent, respectively, seasonally and month-on-month.

Source: Manila Times November 29, 2018 16:18 UTC