M3, bank lending growth weaken in November

Growth in the country’s money supply and bank lending eased last November as the coronavirus pandemic continues to affect consumers and businesses, the Bangko Sentral ng Pilipinas (BSP) reported.

In a statement on Wednesday night, the central bank said domestic liquidity (M3) increased by 10.5 percent year-on-year to P13.7 trillion in the 11th month of 2020, slower than the adjusted 11.6-percent acceleration in October. Month-on-month and seasonally adjusted, M3 climbed by 0.5 percent.