Growth in the country’s money supply eased in February, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. In a statement, the BSP said domestic liquidity (M3) grew by 10.9 percent, slower than the 12-percent expansion in January. “Demand for credit remained the principal driver of money supply growth,” the central bank said. Analysts, meanwhile, said there is still ample liquidity and M3 growth could pick up in the coming months. “Higher liquidity in the financial system, as a function of lower RRR on banks locally, could lead to higher supply of money, thereby help in lowering borrowing costs.

Source: Manila Times April 27, 2020 16:41 UTC