MANILA, Philippines — Money supply growth slightly accelerated in November 2018, driven by the growing demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. This was slightly faster than the 8.3 percent expansion in money supply recorded the previous month. “Demand for credit remained the principal driver of money supply growth,” the BSP said in a statement. The growth in commercial bank loans, however, is slower than the previous month’s pace of 18.1 percent. On a month-on-month seasonally-adjusted basis, commercial bank loans, net of RRPs, increased by 0.3 percent, while loans inclusive of RRPs declined by 0.1 percent.

Source: Philippine Star January 08, 2019 16:01 UTC