Philippine Domestic Liquidity Growth Eases In December

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Philippine domestic liquidity or M3 grew at a slower pace of 8.3% on a yearly basis in December, following a 12% rise in November, the Bangko Sentral ng Pilipinas said in a report on Wednesday. On a monthly basis, seasonally adjusted M3 growth slowed to 0.1% from 1% in November.

Despite the slowdown in the growth of domestic liquidity, credits extended to the private sector continued to increase, indicative of the growing confidence in the country's future growth prospects, the central bank said.

Separately, the BSP said outstanding loans of commercial banks, including reverse repurchase placements rose more steeply by 9.1% from 2.6% in November. At the same time, bank lending, net of banks' reverse repurchase placements with the BSP grew at a faster pace of 10% in December.

Philippines domestic liquidity or M3 grew at a slower pace of 8.3% on a yearly basis in December, following a 12% rise in November, the Bangko Sentral ng Pilipinas said in a report on Wednesday. (Market News Provided by RTTNews)