M3 growth slows, bank lending steady

BANK lending stayed steady in December, the Bangko Sentral ng Pilipinas (BSP) reported late on Thursday, but money supply growth moderated due to the impact of higher interest rates.

Based on preliminary data, domestic liquidity or M3 expanded by 5.9 percent, slower than November's 7.0 percent, to about P17.4 trillion.

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