Expansion in M3, bank lending eases in October

The country’s money supply and bank lending both grew slower in October as businesses and households continue to borrow less, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

In a statement, the central bank said domestic liquidity (M3) rose by 11.8 percent year-on-year to P13.5 trillion in the 10th month, slower than the adjusted 12.2-percent climb in September. Month-on-month and seasonally adjusted, M3 expanded by 0.7 percent.