Money Supply and Bank Lending Decelerate In June

Economic Research	01 Aug 2016
Philippines
Economic Highlights
Money Supply and Bank Lending Decelerate In June The broad money supply (M3) growth in the Philippines edged down to 12.4% y-o-y in Jun, from +13.5% in May and +12.8% in April, underpinned by a slowdown in domestic claims. Meanwhile, outstanding loans of commercial banks, inclusive of reverse repurchase placements (RRP) with the central bank, stabilised at +16.6% y-o-y in June, from the same rate in May and +14.8% in April, supported by faster growth in loans extended to households but partly offset by slower growth in loans to businesses. Economist:  Rizki Fajar  | +6221 2970 7207
To access our recent reports please click on the links below: 01 July: Money Supply and Bank Lending Continue to Increase In May 24 June: Policy Rates Keep On Hold In June Under the New IRC System 20 June: As Expected, Current Account Surplus Dwindled in 1Q 2016 13 June: Exports Still Contract in May, But By A Smaller Magnitude 07 June: Inflation On Upward Trend 01 June: Money Supply and Bank Lending Increased In April