March M3 slows amid faster lending

GROWTH in money circulating in the financial system remained in double-digit pace in March, but at a slower pace from a month earlier despite faster expansion in bank lending, the central bank said.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed that domestic liquidity, or M3, rose at a slower pace of 11.2 percent to P9.49 trillion in March from a 12.6-percent expansion in February.