Money supply, bank lending slower in April

THE amount of money circulating in the financial system (M3), as well as bank lending, grew by double-digit rates in April from a year earlier, but moderated from March, as domestic claims and lending to productive sectors slowed, the central bank said.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that domestic liquidity, or M3, rose at a slightly slower pace of 11.2 percent to P9.52 trillion in April from a revised 11.6 percent in March. Accounting for seasonal adjustments, M3 grew by 1.1 percent month-on-month.