Money supply, lending growth pick up in July

Money supply and bank lending growth both gained pace in July as credit demand strengthened, the Bangko Sentral ng Pilipinas reported on Thursday.

Domestic liquidity or M3 expanded by 13.5 percent in July from a year earlier -- faster than June’s revised 13.3 percent -- to P9.96 trillion. Month-on-month and seasonally adjusted, M3 growth was 1.4 percent.