HIGH interest rates and efforts to siphon off excess liquidity in the market led to the slowest increase in domestic liquidity growth in over two years, according to the latest data released by the Bangko Sentral ng Pilipinas .
“Slower M3 growth recently is still fundamentally consistent with the relatively tight/restrictive monetary policy measures in recent months as local monetary authorities siphon off some of the excess liquidity in the financial system,” Ricafort said. The BSP said domestic claims grew 9.5 percent year-on-year in February from 9.9 percent in the previous month.
Net foreign assets in peso terms rose by 3.6 percent year-on-year in February from 4.4 percent in January. The BSP’s NFA grew by 5.9 percent.Bank lending “The pick up in bank loans growth in recent months could be attributed to improved business and economic conditions, especially in terms improved data on employment to among the best in nearly 20 years or since revised data started on 2005, easing inflation trend to the slowest in about 2 years,” Ricafort said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: PhilstarNews - 🏆 1. / 94 Read more »
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: PhilstarNews - 🏆 1. / 94 Read more »
Source: PhilstarNews - 🏆 1. / 94 Read more »
Source: gmanews - 🏆 11. / 68 Read more »