March M3 surges 34.8% to P7T

SUSTAINED demand for credit drove up the country’s money supply to P7 trillion, as of end-March, expanding by 34.8 percent compared with a year ago, data from the central bank showed on Wednesday.

Compared with the revised 36.1 percent rise recorded in February, however, growth in domestic liquidity (M3) in March was slightly slower, the Bangko Sentral ng Pilipinas (BSP) said.