The expansion in the country’s money supply eased in January as bank lending continued to decline, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

In a statement, the central bank said domestic liquidity (M3) rose by 9 percent year-on-year to P14 trillion in the first month, slower than the 9.5-percent increase in December. Month-on-month and seasonally adjusted, M3 inched up by 0.7 percent.

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