MANILA, Philippines — Domestic liquidity (M3) increased by 12.2% year-on-year to ₱20.3 trillion in April, slightly higher than the revised 12.1% growth recorded in March, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
The BSP said the expansion was driven mainly by continued growth in borrowings by non-financial private corporations and households. Claims on the private sector rose by 12.6% in April, up from 11.9% in March.
Net claims on the central government also increased by 15.1%, supported by higher outstanding government securities and lower government deposits with the BSP and banks.
Meanwhile, net foreign assets in peso terms grew by 8.9% year-on-year, reflecting gains in both the BSP’s and banks’ foreign asset positions.
The narrower measure of money supply, M1, grew by 8.6% in April, slower than the revised 9.5% expansion recorded in March.
The BSP said it will continue to ensure that domestic liquidity conditions remain consistent with its objectives of maintaining price and financial stability.
PRESS RELEASE FROM BSP