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Domestic liquidity, or the money supply circulating in the financial system, rose 11.9 percent in January to P12.8 trillion year-on-year, faster than the 11.3-percent expansion in December 2019, driven mainly by the sustained demand for credit, the Bangko Sentral ng Pilipinas said Wednesday.
The BSP said in a statement domestic liquidity, or M3, increased 1.3 percent on a month-on-month seasonally-adjusted basis.
“Demand for credit remained the principal driver of money supply growth. Domestic claims grew by 11.7 percent in January from 10.6 percent (revised) in the previous month due mainly to the sustained growth in credit to the private sector,” it said.
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