Liquidity growth eases to 32.7 pct in Dec.
MANILA, Philippines (Xinhua) - Demand for money in the Philippines grew 32.7 percent on year to P6.93 trillion ($153.47 billion) in December 2013, the local central bank said today.
The Philippine central bank said domestic liquidity or M3 eased in December after hitting an all-time high of 36.5 percent the previous month.
"The slower pace of increase in money supply is consistent with the expected normalization of M3 growth over the coming months following the completion of the operational adjustments in the bank's special deposit account facility in November 2013," it said in a statement.
The central bank said money supply growth in December was driven by the continued expansion in domestic loans. Domestic claims went up up by 11.6 percent during the period.
Net foreign assets in December grew by 10.1 percent on the back of robust foreign exchange inflows from remittances and receipts from the business process outsourcing sector.
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